U.S.-Australian Dual Taxation Issues: Superannuation Funds and the U.S.-Australia Income and Estate Tax Treaties
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers filing returns for clients taxed in both Australia and the U.S. with an explanation of reporting requirements and tax obligations in both countries. The panel will discuss treaty provisions, relief from dual taxation, residency determinations, and how to mitigate overall taxes paid.
Outline
- The U.S.-Australia Income Tax Treaty
- Residency determinations
- Australia
- United States
- Types of income and taxation
- Australian superannuation funds
- Totalization agreement
- The U.S.-Australia Estate tax treaty
- Dual taxation relief
- FATCA and FBAR reporting
- Other planning steps
Benefits
The panel will review these and other vital issues:
- Determine when a non-resident might have a taxable presence in Australia or the U.S.
- Recognize situations in which totalization agreements apply.
- Ascertain options available to employers and employees to obtain the most favorable Social Security tax treatment.
- Establish how a taxpayer can avoid dual tax liabilities.
- Identify the tax reporting requirements of U.S. resident taxpayers and foreign individuals.
Faculty
C. Edward (Ed) Kennedy, Jr., CPA, JD
Managing Director
C Edward Kennedy Jr
Mr. Kennedy has more than 42 years of experience dealing with a variety of international tax matters, specializing... | Read More
Mr. Kennedy has more than 42 years of experience dealing with a variety of international tax matters, specializing in tax consulting services to a wide variety of clients ranging from closely held companies to multi-national businesses. His expertise includes domestic and foreign income and social security tax planning, tax compliance for individuals and corporations, tax treatment of incentive compensation plans, international assignment program administration, and international assignment policy design. Mr. Kennedy has also served as the U.S. practice leader for international social security matters for a Big 4 accounting firm. He is a frequent speaker in the areas of international tax compliance and reporting obligations U.S. information reporting requirements for foreign assets and foreign entities, U.S. tax implications of foreign pension and social security plans, and U.S. income and social tax treaty planning. Mr. Kennedy is a member of the Texas Bar and is licensed as a certified accountant in Georgia and Texas. He has a B.A. from Furman University and a J.D. from Vanderbilt University School of Law.
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Patrick J. McCormick, J.D., LL.M.
Partner
Culhane Meadows Haughian & Walsh
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting... | Read More
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting obligations. He published national articles and given numerous national and local presentations on assorted areas of tax and estate planning law, including international tax and offshore compliance issues. His latest article on PFICs is titled Tax Reporting Implications of Foreign Mutual Funds. He is licensed to practice in the States of New Jersey, Florida, and Georgia, and the Commonwealth of Pennsylvania.
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