‘Double taxed’ by Australia and Greece? A bilateral treaty underway could solve this

A bilateral taxation treaty between Australia and Greece would be mannah from heaven for any Hellene Down Under hoping to retire in Greece. But it’s not just those expected to benefit from not being taxed twice. Lawyer John Tripidakis explains.

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As confirmed by Federal Treasurer Josh Frydenberg earlier in the year,Greece is among a group of countries considered by the government as part of reviewing Australia’s tax treaty negotiation program.

Negotiations with India, Luxembourg and Iceland are already underway as part of the first phase, while Greece, Portugal and Slovenia will follow next year.

But the closing date for submissions from stakeholders is looming.

“If we don’t fight for it, [the injustice] won’t be undone on its own,” says lawyer John Tripidakis who has been working with the Greek Community of Melbourne in raising the issue to the Australian government and pursuing a Double Taxation Agreement be established.

For the Greek Australian cohort being taxed by two tax systems simultaneously, affects more than one demographic, including income earners, property owners, pensioners and anyone with business activities, dividends, or other taxable assets.

“So it’s not only those earning an income in Greece that will benefit from the treaty"

Itt’s also expected to have a positive effect in trade ties and investment prospects between the two nations, Mr Tripidakis says, bringing Greek and Australian tax relations on par with over 40 other countries.

Are you among those expected to benefit from a scrapping of double taxation? John Tripidakis explains the importance of the treaty for different cohorts – Podcast in Greek

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Πώς μας επηρεάζει μια σύμβαση Ελλάδας-Αυστραλίας για αποφυγή διπλής φορολογίας;

SBS Greek

27/09/202106:45

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