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S153 – only 8% of NHRs have valued-added profession
25 Monday Feb 2019
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25 Monday Feb 2019
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in≈ Comments Off on S153 – only 8% of NHRs have valued-added profession
21 Monday Nov 2016
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assessment, category b, high value, non habitual residency, profession, simplified regime, sole trader
If you exercise the “high value ” profession associated with your Non Habitual Resident application in Category B, the levy is customarily based on 75% of gross income, taxed at a flat rate of 20%. This leaves a final flat rate assessment of 15%, as compared to +40% as a typical higher rate taxpayer.
If your business activity is different from your NHR status, tax is commonly based on 35% of the gross income in the Simplified Regime, then assessed at marginal rates. This leads to a typical final assessment of 10-15%