More Tax for Americans Abroad
easyexpat
29 June, 2006 23:33
The new "Tax Cut Package" from George W Bush looks actually like a tax increase for American expatriates. As expressed by the IHT actually, those expected to feel the most pain are expatriate workers who earn comfortable, but not lavish, livings and semi- retired workers earning some foreign income while drawing U.S. Social Security, pensions and other income from U.S. sources. Many of these expatriates will be pushed into higher U.S. brackets, as will employees and independent professionals in no-tax and low-tax areas like much of the Middle East, some Caribbean nations and Hong Kong.
The foreign-earned income exclusion is expected to be lifted to $82,400 in the new law and indexed to US inflation after 2008. However there are some new legislation proposed by a Republican Senator hoping to ease expat income tax and eliminate the cap on income that Americans working abroad can earn
without having to pay both local and U.S. taxes on it, a change meant
to bring the U.S. system
in line with those of other industrialized countries.
On the other hand, the new law cap the exclusion for housing allowances (rent, utilities, insurance ...). It is currently calculated as 30% of the foreign-earned income exclusion, minus the 16% that would be paid in the US. With the new law it is more or less eliminated. (More)
Easy Expat Dinner in Dubai - 2nd June 2006
easyexpat
12 June, 2006 19:08
A dinner was organised by San in Dubai at the The Noodle House (Souk Madinat Jumeirah), on the 2nd June.
According to San's report, the evening was a success: good ambiance, and interesting conversations (despite the absence of Benoit ...who forgot to come apparently 
: life in Dubai of course, the quality of life abroad (in other cities like Paris, Geneva or Montreal), but also football (no way to escape with the worldcup).
The menu was Peking duck and Phad Thai, while people came from Tunisia, Canada, Switzerland ... and of course France for most of them!
A definite must do it again!
You can see all the photos of the dinner in the Album section.
