Australia Visa Fee & Cost Updates
Australia increased partner visa fees to 11,710 dollars on July 1, alongside hikes for student and working holiday programs. New tax rules target foreign residents with a 50 million dollar threshold for capital gains, while a recent tribunal ruling allows dual residents to use treaty tie-breakers to avoid double taxation. Additionally, an October 1 cap on credit card fees to 0.3% threatens bundled travel insurance for long-term travelers.
Australia cuts card fee to 0.3% putting nomad travel insurance at risk Oct. 1
New Reserve Bank of Australia interchange fee caps are expected to eliminate or significantly reduce the travel insurance bundled with Australian credit cards. Expats and long-term travelers relying on these policies will likely need to purchase independent coverage as banks cut costs.
Australia partner visa fees jumped 25% to 11,710 dollars on July 1
Australia is implementing significant fee increases for student, partner, working holiday, and skilled visas. The changes also include higher income thresholds for employer-sponsored visas and extended working holiday age limits for citizens of Cyprus, Finland, Germany, and South Korea.
Australia tribunal rules dual resident nomads can use treaty tie-breaker
An Australian Administrative Review Tribunal ruling shows how dual residents can rely on a tax treaty tie-breaker to be treated as resident of one country only, so the same income is not taxed in both.
Australia's new tax draft targets foreign residents with AUD 50 million threshold
Proposed changes to Australia's capital gains tax rules could create massive liabilities for foreign residents on assets held for decades. The retrospective nature of the policy means expats may face unexpected tax bills on Australian property and business assets dating back to the early 2000s.