Individuals and organisations with US connections face a daunting array of compliance requirements, tax planning considerations, and reporting obligations.
The intricacies become even more pronounced when dealing with the distinct and often disparate tax systems of countries such as Australia, New Zealand, and the United States.
We can work with you to mitigate the risks of double taxation and assist with compliance across all jurisdictions.
Need US tax planning support?
Learn how KPMG can help mitigate the risk of double-taxation and assist with cross-border compliance.
How KPMG US tax advisory services can help
KPMG Australia offers personalised US and Australian joint tax advisory and compliance services including the preparation and filing of annual tax returns. We provide advisory services for:
Individuals and family offices
- Annual tax compliance and tax planning for individuals, trusts, self-managed superannuation funds, businesses and partnerships.
- Advice on optimal asset holding structures to mitigate double taxation.
- Catching up on missed or incomplete historic US returns by filing under the IRS amnesty program – streamlined filing compliance procedures.
- US gift and estate tax considerations.
- Residency and/or renunciation of US Citizenship or Green Card and optimal timing based on your tax affairs.
- Retirement tax planning – Superannuation, 401k, and IRA plans.
Businesses
- Services for employees relocating to/from the US including Australian-US tax briefings.
- Compensation and reward planning with businesses with a global workforce.
- Support with Australian and US payroll for businesses needing to tackle cross-border reporting and withholding.
- High touch tax planning and compliance services for executives or founders relocating internationally.
US tax planning services at KPMG
KPMG's dual Australia-US tax specialists provide a range of tax services relating to Australia-US and New Zealand-US cross-border tax issues.
We provide comprehensive tax services including advisory, compliance, and planning advice for individuals and their associated entities including trusts, self-managed superannuation funds, and businesses.
Our broad experience encompasses multinational companies, high-net-worth individuals, family offices, and start-ups looking to expand into the US.
We can work with you to navigate tax and reporting obligations, including effective communication with tax authorities in both countries and work in collaboration with our global KPMG network where in-country expertise is required. Our team can also help you manage both employer and employee tax obligations to maintain seamless and efficient reporting.
Contact KPMG's US Tax Advisory & Compliance team
FAQs
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What tax assistance is available for businesses with employees relocating to and from the US? KPMG Australia offers comprehensive tax support for both employers and employees, including senior executives with complex international tax situations. KPMG's team of US tax specialists can support you with designing your mobility policy, cross border employee equity reporting, and employer obligations, including superannuation and social security.
Our services cater to those who require detailed guidance on their personal investments, family trusts, and other tax structures, ensuring a smooth transition for personnel moving internationally. -
Does KPMG Australia offer support for high-net-worth individuals with complex tax situations? We focus on assisting high-net-worth individuals who require specialised tax advisory services due to the complexity of their financial affairs. Our clients typically have businesses, investments, trusts, or frequently move between the US and Australia/New Zealand. We offer sophisticated tax return services for individuals who often cannot be adequately served by standard tax accountants.
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Does KPMG Australia help with US expatriation? We provide support for those looking to renounce their US citizenship/Green Card by offering them guidance on the complex issues surrounding expatriation, including potential exit taxes on their assets. We can also help individuals who have neglected their US tax filings and require help to return to compliance.
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What tax services do startups looking to expand from Australia to the US require? KPMG's Australia's tax advisory services are particularly valuable for Australian startups aiming to establish a presence in the US. We have extensive experience in addressing the cross-border tax complexities startups face, including planning for global workforce compensation, structuring for optimal tax outcomes, and navigating the tax reporting landscape in both the US and Australia. Our goal is to provide startups with the strategic tax guidance they need during their expansion, including compliance assistance and ways to maximise their growth potential.
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How can KPMG support taxpayers who have neglected US tax filings? KPMG's US tax specialists are experienced in guiding our clients through Streamline Foreign Offshore Procedures, an IRS amnesty program designed for taxpayers residing outside the US who have failed to file their US tax returns, or who may have never filed because they were not aware of the requirement.
The IRS stipulates that participants must submit three years of tax returns along with additional documents, including a statement verifying that their previous failure to file was not intentional along with six years of reports of foreign financial assets (FBARs). The primary advantage of this program is the waiver of all penalties associated with the failure to file. Using this program can help taxpayers become fully compliant in the future, offering an opportunity to rectify their tax standing with the IRS.