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Greek-Australians Face Big Greek Taxes

taxGreek-Australians are facing much higher taxes on their properties in Greece but not with Greek taxes on their earnings in Australia, Greek officials have said.

According to the statements of Greece’s Deputy Foreign Minister, Konstantinos Tsiaras, “taxes on property owned in Greece and any rental income-or potential income-would be taxed at a higher rate as part of governments’ tough austerity measures.” He also reassured Greek-Australians saying that the government will not tax their income earned in Australia.

The Brisbane Times reported that introduction of the new taxes has been temporarily postponed and Tsiaras said it was possible they might be revised if the Greek economy improved by the end of this year. Australian officials are expecting the new Greek tax arrangements to be finalized by May.

A spokesman for the Department of Foreign Affairs and Trade stated that the Australian government was keeping ”possible double taxation agreements under constant review,” and added that, “‘We have not yet been briefed on new Greek government tax measures.” He added that, ”once details are clearer, the government will be able to determine the possible impact of the new measures on Australians of Greek descent.”

Another question for Greek Australians is that of the paper work concerning their citizenship. Tsiaras said the Greek government was also reviewing the need for complicated paper work Greek-Australians have been asked to fill out to register their Australian citizenship. Data from the 2006 census show that there are more than 260,000 people of Greek nationality in Australia, with almost 126,000 born in Greece.

Costa Potiris, a journalist at Sydney’s Greek Herald has written to express the concerns of the Australia’s Greek community about the proposed tax law changes and the possibility of taxation of the income they earn in Australia: ”I am considered to be Greek living in Greece therefore all my income is subject to Greek taxation,” he said. ”People are very worried.”

The Greek Ambassador to Australia, Charalambos Dafaranos, said there was no risk that Greek-Australians would be taxed on the income they earned in Australia. ”We want people to know that if they have income from rented properties in Greece or if they have property, they need to declare it.”

He added that, “Nobody needs to know how much they earn or pay tax in Australia.” As regards the threat of double taxation he said that, ”They will not be required to pay a double tax. What interests us is if they are residents of a foreign land.”

According the statements of a spokesman for the Australian Tax Office there hadn’t been any discussion between Greece and the ATO in relation to further taxation of the income Australian residents earn by their occupation in Australia. The Brisbane Times said that there are negotiations between the countries on a reciprocal work and holiday visa program. The current draft agreement proposes a cap of 500 visas a year.

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