At Resources Unearthed we understand that life as a mining and resources expatriate can be challenging and involve complex and interacting considerations between personal, family, professional, social, financial and legal matters.
For in-bound AND out-bound mining and resources personnel, pre-planning is the key for making the most of career, financial and lifestyle opportunities.
Importantly, there are several important matters that must be addressed in advance because valuable financial opportunities and benefits specific to Australia or other countries can be forfeited at departure.
Employment
Remuneration should be carefully negotiated and thoroughly documented prior to taking up a posting or secondment overseas. While salary, executive share schemes (ESS), cash bonus and incentives are common considerations for out-bound expatriates details relating to extraordinary expenditures for both relocating overseas, day to day expenses such as housing, travel and family reunification allowances and health insurance should also be clarified.
Tax
Understanding your tax residency status while overseas is imperative, particularly as many of the tests and examples provided by the ATO have grey areas and do not fit circumstances common to the mining and resources sector. Tax matters including use or rental of your former home in Australia, CGT implications of a main residence and investment and employee share scheme (ESS) income must be carefully considered, while tax exposure across different jurisdictions will become a factor in where wealth may be accumulated when living and working outside Australia.
Superannuation & SMSF
There are complex tax issues affecting Australian superannuation and self-managed superannuation funds (SMSF) for mining and resources personnel who accumulate superannuation while working in other countries. Further, the repatriation of “superannuation” earned in those countries, requires expert advice and strategy to reduce tax and adherence to local jurisdiction rules.
we understand
Expatriates in Mining & Resources
As an expatriate, you need financial strategies with in-built flexibility so that you may continue to manage the inevitable changes in your personal and business circumstances before, during and after you return from working overseas.
Brett Cribb
With more than 20 years experience in mining and resources, and 11 in underground mining including four as underground mining manager, Brett is well qualified to coordinate integrated financial and business advice for executives, professionals and business owners in these sectors.
James Marshall
James is a highly qualified, award-winning Financial Planner and Executive Share Scheme (ESS) strategist advising executives, professionals, business owners and expatriates predominantly in mining and resources but also in health, biotech, pharmaceuticals, technology and construction, ASX listed companies.
Craig Barry
Craig has worked with mining and resources professionals and executives for his entire professional life. Dedicated, trustworthy and open to exploring new concepts and approaches, Craig communicates effortlessly with clients and peers who often call upon him to interpret complex tax laws and government mandates.
Robert Lamb
Robert is a civil litigator with over 20 years’ experience. A highly credentialed and practised legal adviser, Rob has worked with Mining and Resources business owners, professionals and executives for more than 15 years and is perhaps best known for his communication skills.
Why choose us
Expatriate Specialists
We coordinate the specialised services and expert advice necessary for you to achieve your ‘big picture’ financial, business and lifestyle objectives as an expatriate.