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  • #976123
    J22
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    I’m the director of a software company which employs my wife and I (plus a couple of others).

    I’m looking into a possible (non-permanent) overseas move in order to grow the business in other markets – most of our sales are exports in any case. I expect the duration of our residence in the target country (Germany) would be between 2 – 4 years.

    I’m trying to ascertain what the possibilities are with regard to relocation allowance or LAFHA. Essentially I’d like to understand what components of our relocation and / or ongoing costs might be bearable by the company rather than by me personally. And obviously what the tax implications of that are.

    FWIW we will be taking our young daughter along, too.

    Naturally I will seek professional advice before proceeding, but would love to hear some opinions / ideas beforehand.

    Thanks!

    #1078902
    taxpert
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    Hi,

    There are FBT exmemptions and concessions you can get if the business pays relocation expenses on your behalf. Take a look at http://www.ato.gov.au/businesses/content.aspx?menuid=0&doc=/content/52016.htm&page=12&H12.

    Of the top of my head I’m not sure if you would be living away from home as 2-4 years is quite a long and indefinite timeframe and you are taking your family with you. Are you selling your current residence or just renting it out?

    Definitely worth seeking professional advice. Good luck and let me know if I can help.

    Cheers,
    Simon

    P.S. Why do I always have to login multiple times when posting in the forums?

    #1078903
    Peter – FS Administrator
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    taxpert, post: 99457 wrote:
    P.S. Why do I always have to login multiple times when posting in the forums?

    Hi Simon,
    That sounds odd? You certainly shouldn’t need to login multiple times when posting in the forums. One thing to check is that you tick ‘remember me’ when you sign in (if you don’t already) as login problems are generally related to cookies. If it happens again next time you login just send me a DM and I can investigate your account further to resolve.
    Thanks for being part of the community :)
    Cheers
    Peter

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