MancGeek

Stories are always exaggerated for effect. However as the saying goes "you have to cut your cloth accordingly", and the commodities market tanking is resulting in a huge reduction in tax income for Australia whilst the level of spending is being roughly maintained. That can't continue forever. Best case scenario is that the global economy recovers, the Chinese QE and economic stimulus works and the increase in overall GDP to debt ratio is slight and temporary. Worst case is China tanks due to the artificial nature of their economy and the political dynamic in the country, and Oz either has to tax a lot more or slash spending. Personal indebtedness is crazy across the world at the moment. I don't know why people think that the way to get what you want is to just keep on borrowing more and more money. Eventually you have to pay it back. The reliance on property inflation and equity release to finance this craziness can't continue forever as it will eventually correct, most likely very painfully. I have a simple rule, save up and then pay for what you want in cash (a reasonable (no more than 3 times income) mortgage excepted). Seems I'm the exception in this regards and most other people view credit as perfectly normal.

You've got it right Dan (although the differing tax structures of contracting / consulting in the countries make direct comparisons difficult, see earlier post on financials). There's a financial threshold whereby the lifestyle benefits are overridden by the fiscal realities. That threshold changes depending on the relative economic strengths and weaknesses of the two countries and it's pretty skewed in the favour of the UK at the moment having analysed it.

I guess it comes down to seeing a bit of the world. whilst most of my peer group spent their 20's either at uni, starting families or having fun I spent it with my head in technical manuals and books, passing exams and driving my career forwards. I didn't have a holiday from the age of 18 ( I was a college dropout and started stacking shelves for a living at that age) until I went to Oz at 30. The benefit of that now is that whereas the peer group are all now complaining that they don't earn enough, can't afford a house and blaming everyone but themselves for their profligate 20's I'm in a situation whereby I have the freedom to try new things, like working in difference places around the world. However I'm not going to throw away the career I've built for myself to do it given how hard it has been to get to where I am. When I got my visa the exchange rate was 1.5 and I could just about justify working 7 months UK and 5 months Oz so as to not freeze my ass off over here in the winter. Now the macro economic arguments have changed enough that the viability of that scenario doesn't work.

Cheers all for the continued viewpoints. In case it helps any future IT contractors / consultants these are some "back of a fag packet" calculations on financial viability taking into account the differing tax structures: UK Contractor - Senior Level - Pulling 500pd (not my rate but a reasonable one for a decent contractor), assuming 46 weeks billable rate and use of the FRS for VAT. (Excluding company expenses to make comparison with Oz tax structures viable) Assuming outside IR35 and making full use of tax efficiencies in the UK: Gross Billable - 115000 + approx 5750 = 120750. Rough Salary for the sake of comparison of 10750. Corporation Tax on resulting profit of 110000 (22000 tax) leaves 88000 for dividends. 28000 approx basic rate at 0% and 60000 @ 25% is dividend take home of 73000. Add on Salary of 10750 gives a final take home of 83750. Taking the current exchange rate of 2.1 this would be an Oz take home of 175875. Using Oz tax calculator ( http://www.paycalculator.com.au/ ) this would require an Oz salary of 285000, or 1240 a day over 46 weeks billable. Using the oft mentioned 2.5 rate for equivalent lifestyle, this would be take home in Oz of 209375. Oz salary requirement of just north of 350000, or 1521 a day over 46 weeks billable. Fully appreciate those who comment on the "lifestyle" choice but there's a difference between an adjustment for the sake of lifestyle and impoverishing yourself in pursuit of a fantasy.

Cheers for the insult, all view points welcome. However if all you fancy doing is slating me then feel free to f*ck off and keep your opinions to yourself. Cheers to all others for their viewpoints, has helped to crystalise my thoughts on the options. Will be canning the move for the moment. The declining economy, outlook for China and hugely increasing Australian budget deficit are probably not good indicators for the next 3-5 years.

Acknowledged, things change all the time. RRV strategies "can" include demonstration of personal assets that are "substantial and of benefit to Australia". So potentially owning a couple of properties there (outright) and employing a management agency for them could be construed in that fashion. I've also got other backup strategies, I can qualify for a new 189 Visa (subject to the usual issues with occupations staying on the list etc) for another 9 years until I'm 45. IELTS is a doddle to get all 9's and I'm maintaining valid ACS assessments every 3 years (due to update the current one this year) so I can move on a new application at short notice if needs be. I guess to summarise, there's never a "best" time to move, but the current economic and monetary situations are seriously dissuading a lot of people from making the move for the moment. Having longer term migration strategies is never a bad thing as economic cycles can change the landscape quickly in either direction.

Yep I'm aware of the 5 year limit then it's RRV time. Strategy in place for that around making sure i have firm enough ties to obtain an RRV as and when I need it. I'm also aware that there's more to life than cash, but the change in relative economic strengths would be a £40K a year difference between UK and there. That's more than just a small difference. The strength of the UK economy has meant that the earning potential over here now is pretty crazy if you have the right skills in the right areas (I'm into Data Platform and Business Intelligence skills with added Cloud platform). If I work my ass off for the next 2.5 years and come over just before the 5 year travel facility expires the difference in $ I will be able to bring over the 5 years I've delayed will be the better part of half a million due to exchange rate changes and increased earning power in the UK. Worth delaying the quality of life for that 5 years as it'll mean I can probably retire before 50. The UK economy means I've also been able to pay off my mortgage in 4 years and own my house outright. That's my backup plan in case any move to Oz doesn't work out. Money doesn't buy you everything. Having said that though, a fiscal strategy based on sound economics and optimising your earning potential alongside a backup plan buys you peace of mind and gives you options. Anyone who went to Oz 2-3 years ago and decides / has to come back now is going to find the overall process damned expensive.

Admittedly most articles are pretty sensationalist nowadays, click-bait appears to be a viable marketing strategy for a lot of news organisations. It does hint at the perfect storm scenario though which I can see creeping up. When I got my visa a couple of years ago the exchange rate wasn't much over 1.5, now it's 2.1 That's a 40% appreciation in less than 3 years. Add in the commodities market tanking, the dangerous levels of debt being run up by national governments, the property bubble and the fact that Oz didn't get hit by the GFC in the same way as the rest of the developed world and you can see a re-balancing taking place, either slowly over time or via a sudden correction... As it stands I see my visa now as a working holiday option so I can have a cheap 3 months or so over in Oz during the UK winter rather than a viable option for migration.

Interesting article in the UK Telegraph: http://www.telegraph.co.uk/finance/newsbysector/industry/mining/11749706/Commodities-crash-could-turn-Australia-into-a-new-Greece.html As an IT specialist, I've had my visa for a couple of years but not made the move (currently in North West UK). The changing exchange rate and relative slump in the economy compared to the UK means I'd have to charge a day rate of almost $1500 to equate to my standard of living in the UK. Rates on offer at the moment are around half that so am going to be staying in the UK for the foreseeable future. Interesting to think what the effect could be on migration rules and overall net migration figures over the next few years....

Hi I've been a few times in the last 6 years. It's got better since they stopped some of the dodgy stuff that went on at Cheeky Monkeys It's still fairly laid back in the day and on the beach at night. Bars and clubs are always busy and it gets a bit rowdier at the weekend. You can always jump down the coast 15 minutes to somewhere like Lennox if you want it quieter HTH Nick

Depending on whether the payments were made to a LTD company (a lot of their companies are shell companies backed up by a holding company, but some of them appear to be sole trader setups) it may be possible to bring small claims against the directors as individuals (this is important, as if a claim is brought against a liquidated LTD company the directors won't be held responsible unless it can be proved they were negligent) and then get baliffs instructed to recover the debt. It's a long shot though. Best option is for anyone affected to make a complaint against the directors via companies house and let them investigate: https://www.gov.uk/company-director-disqualification

Not looking good. Website is down, whois on the website is screened by privacy, facebook page removed, twitter account not updated since 2013.

Very true, hence my notes on risk and to consult a professional rather than my out of date advice I was lucky as I had 12 years experience, of which 8 years was post qualification so I got full experience points. Either way it looks like a long term project for the OP.

<Disclaimer> I got my 189 Visa 2 years ago, regulations change constantly and I'd advise consulting one of the agents that post on here to verify any info </Disclaimer> I obtained a 189 skilled independent visa 2 years ago. I don't have a degree but passed the ACS assessment for a Software Engineer through my vendor qualifications (I hold a number of Microsoft qualifications). The assessment requirements have changed, at the time my basic MCTS qualified as a AQF diploma equivalent, now you need an MCSE or MCSD, in your case most likely a MCSD Web Applications (https://www.microsoft.com/learning/en-us/mcsd-web-apps-certification.aspx ) . This then counts as a vendor assessed qualification for the purpose of points awarding and I got 10 points for the qualification. More details on page 11 (section 9) of the following link https://www.acs.org.au/__data/assets/pdf_file/0020/7319/Skills-Assessment-Guidelines-for-Applicants.pdf Bear in mind that experience counting towards migration only counts POST when you get the qualification so you would still need probably 3 years experience after passing the exams. Also bear in mind this strategy is highly risky as what may pass the assessments now won't necessarily pass the assessments in 3 years. However any competent web developer should be able to pass the 3 MCSD exams within 3 months of study part time. In the absence of being able to wait for a proper diploma and post diploma experience this may work for you. If you decide to follow up on this PLEASE take professional advice from someone who is used to dealing with these issues, Westly Russell or Alan Collet are recommended on a regular basis. Any questions please feel free to ask. I can only comment on my own experience though and as stated previously regulations change constantly and what worked for me 2 years ago may be totally inappropriate now. Cheers Nick Adding Quote from Immi Website for Qualification Points when using MCSD as vendor qualification assessed as comparable to AQF Diploma: Any other qualification You can receive 10 points for any other qualification or award which is recognised as suitable for your nominated occupation in your skills assessment by the relevant assessing authority

I'm in Oz for the next couple of weeks before going back to the UK so we'll probably fly past one another at some point I'll spend a couple of days putting some of my thoughts / questions together (residency, ordinary residency, retention of property etc etc)and then give you a shout Alan. Hopefully you can provide your services by email to a certain extent. Thanks everyone :biggrin: