How do you know if you're a dual citizen or not?

[wandering_fred]

The USA is the only OECD country that has this problem...... It's called citizenship based taxation.... And your get USA citizenship by being born there or being born to parents who are USA citizens. A non USA citizen marrying a USA citizen is complicated due to issues regarding residency in the USA. Though residing/working in the USA may be object for many people.

{quote from wikipedia}The Foreign Account Tax Compliance Act is a 2010 United States federal law requiring all non-U.S. financial institutions to search their records for customers with indicia of 'U.S.-person' status, such as a U.S. place of birth, and to report the assets and identities of such persons to the U.S. {end}
That in particular is what is causing the major problems for "US people" residing in other countries. There have been references to accounting agencies that are prepared to "intercede" with the USA Internal Revenue Service (IRS) to re-establish a proper and current "relationship". Renouncing USA citizenship should be done BEFORE one acquires substantial assets.

I attempted to point out some of the unintended consequences to an Aussie acquaintance of technical inclination who just got his Green Card and is working there. Moving back to Australia when he retires in 30 years could require significant accounting expenses.....

Happy in Australia not wandering back there

Fred

PS I have seen many posts from international accountants that admit that even the IRS didn't/doesn't really know the correct way to treat Australian superannuation contributions at the time earned, and even when they are paid as "pensions".

 

[mrsterryn]

A friend of mine who has been in Aust for over 40 years is likely to have a $110,000 USD tax bill

 

[Himeno]

I know a US citizen living near Melbourne. He moved to Australia over 15 years ago. He still has (and uses) his CA drivers license. Not sure if he is still paying (and/or filing) US taxes.

Someone at work was born in the US and moved to Australia as an infant. She has never lived in the US for more then a couple of months. I told her about the US global taxation thing last year when I found out she had US/AU duel citizenship. She was quite "meh" about the whole thing and doesn't intend to look into it.

It might be possible for me to get UK citizenship as grandfather was born there (grandmother is dutch. IIRC they met on the boat coming to Australia after the war). Would have to dig up heaps of information to find out.
Other side of family has been in Australia for at least 3 generations.

 

[mrsterryn]

Someone at work was born in the US and moved to Australia as an infant. She has never lived in the US for more then a couple of months. I told her about the US global taxation thing last year when I found out she had US/AU duel citizenship. She was quite "meh" about the whole thing and doesn't intend to look into it.

Apparently there is datamatching happening with IRS and ATO

 

[Hvr]

when I found out she had US/AU duel citizenship

I don't think duel citizenship is allowed in either country.
Although, maybe banjo dueling is allowed.

 

[wandering_fred]

Apparently there is datamatching happening with IRS and ATO

See my reference to FATCA in 201....

This time not wandering
Fred

 

[CaptJCool]

Apparently there is datamatching happening with IRS and ATO

Yes that’s correct

Automatic exchange of information guidance – CRS and FATCA | Australian Taxation Office

How Australia participates in the automatic exchange of financial account information with foreign jurisdictions.

www.ato.gov.au

FATCA reporting | ATO Software Developers

This page provides information about FATCA reporting, systems and data.

softwaredevelopers.ato.gov.au

Foreign Account Tax Compliance Act | Australian Taxation Office

Foreign Account Tax Compliance Act (FATCA) is a United States (US) legislation to improve compliance with US tax laws.

www.ato.gov.au

 

[marki]

Mr Johnson(Boris) was born in New York, but in 2016 it was reported he had renounced his US citizenship after being hit with a tax bill of tens of thousands of pounds by American authorities.