This draft interpretation statements will update and replace IS 16/03: Tax residence. It has been just over 10 years since the tax residence interpretation statement had a full refresh. As there have been numerous legislative and other changes, it is timely to fully update the statement. Accompanying the draft statement are three draft fact sheets – one each in respect of tax residence and individuals, companies and trusts. There is also a reading guide to help readers understand, at a high level, the changes that have been made.

CA ANZ supports the publication of this updated guidance. The statement is clear, well-structured, and will serve as a valuable resource for taxpayers and their advisers. However, CA ANZ suggests making some minor adjustments to further enhance the statement.