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juju(Enthusiast)Enthusiast
28 June 2023

Hi Sir

I'm planning to setup BVI companies and change these bank accounts to be under the new BVI companies instead of my personal name. I wish to do this because I want to protect my family against inheritance tax (that may be introduced by governments in the future), and also to shield my assets away from any future potential personal liability that may or may not arise (out of prudence and precaution).  


What would be the tax implication on CGT, income and investment if I am a resident for tax purpose?


Best Regards

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1,507 views
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Most helpful reply

CaroATO(Community Support)Community Support
30 June 2023

Hi @juju,


You'll need to check with the BVI what their regulations are regarding banking.


Your overseas assets, including investments will be treated the same as your Australian assets for CGT purposes.


If you receive income from overseas, you'll need to let us know in your tax returns.


Have a look at the international tax for business information on our website.

All replies

Most helpful reply

CaroATO(Community Support)Community Support
30 June 2023

Hi @juju,


You'll need to check with the BVI what their regulations are regarding banking.


Your overseas assets, including investments will be treated the same as your Australian assets for CGT purposes.


If you receive income from overseas, you'll need to let us know in your tax returns.


Have a look at the international tax for business information on our website.

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