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Navigating the “One Big Beautiful Bill”: What It Means for Australians in the US and Americans in Australia
The "One Big Beautiful Bill" introduces significant tax changes affecting Australians in the U.S. and Americans in Australia, including a 1% remittance tax, permanent extension of Trump-era tax cuts, and potential higher taxes for Australians classified as "discriminatory foreign country." It also raises compliance complexities for businesses and alters existing tax treaty benefits.
Ashley Murphy, CFP® GFP Fellow, is a tri-citizen of the USA, Australia and the UK. He is the founder and Principal of Arete Wealth Strategists Australia, a fee-only, SEC Registered Investment Advisor providing financial planning and investment management firm for Australian/American expatriates in the United States and Australia. Ashley is also the Co-founder and Executive Director of the Global Financial Planning (GFP) Institute. The GFP Institute provides community, tools, and education for fiduciary financial advisors working with clients whose financial lives cross borders.
From 2014 - 2017, Ashley taught in the CFP programs at UC Berkeley Extension and Golden Gate University. He served as a Knowledge Circle host for the Financial Planning Association's International and Cross-Border Knowledge Circle (2017 - 2019), and is a regular conference speaker. He holds a Graduate Diploma in Financial Planning in Australia making him one of the few financial advisors qualified in multiple countries. Ashley has been quoted in the Wall Street Journal and profiled in Financial Advisor Magazine.
Ashley lives with his wife Eliza, and daughters Elise & Jasmine in Minneapolis, MN. He enjoys cycling, reading and world travel. He is a futurist with interests in architecture, renewable energy and demographics.
In this webinar, Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, GFP Fellow CFP® will review the most important provisions of this bill and how it affects Australians in America and Americans in Australia.
Some of the relevant issues that will be addressed include:
- The effect of the Trump-Era Tax Cuts now being made permanent, including the QBI extension and the mortgage interest deduction caps
- Changes to State and Local Tax deductions
- “No tax on Social Security” provision
- Remittance Tax: Imposes a 1% tax on international cash transfers, affecting both U.S. citizens and immigrants sending money abroad
- Permanent extension of the Estate tax limit, and the risk of
- Retaliatory International Tax Provisions
We hope you can join us!
Absolutely! These sessions are for you. Bring your questions and participate during the Q&A.
Not at all. These webinars are designed for all Australian expats, not just clients of Arete.
It’s all good. We will record the webinar and send the recording link.
Certainly. Just give them this website address and ask them to register.