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Why does Australian law (via the Australia/US Tax Treaty) permit double taxation of resident Australian citizens with US indicia?

What Australian public policy objective is served by allowing US taxation of superannuation accounts held by Australian citizens with US indicia?

Why does Australian law (via the FATCA IGA) assist the enforcement of US taxation based on citizenship, which is contrary to normal international practice of taxation based on residence?

Due to the ineffective Australia/US Tax Treaty and FATCA, Australian citizens claimed as taxpayers by the US are burdened by US tax on their superannuation, punitive US tax on managed fund investments, and a loss of financial privacy because their bank details are sent to the IRS. The Australian Government does not protect these citizens from extra-territorial taxation by the US. As a result, these Australian citizens are less able to benefit from Government policies, such as superannuation, which encourage saving. So far, the Government response has been to refer Australian citizens to the US Government for remedy. This is not good enough! The Australian Government should stand up and assert its sovereignty in the face of US extraterritorial taxation.

The mission of Let’s Fix the Australia/US Tax Treaty! is to press for amendments to the Australia/US Tax Treaty and the FATCA IGA to eliminate discrimination against a subclass of Australian citizens that is also disadvantageous to all Australians. We plan to gather the voices of those impacted, including Australian-only family members, and highlight the obligation of the Australian Government to defend its sovereignty and protect Australians against US extraterritorial law.

This website will be continually developed and expanded. We welcome your input and participation.

Let’s Fix the Australia/US Tax Treaty!