Hi I am sure this has been covered somewhere before but I am struggling to get some decent tax advice before we leave the UK next month. We have some savings and hopefully if we ever sell the house some equity that we need to shift to Oz. We don't need all of it straight away.
The banks want to talk to us about offshore but can't tell us if we will be taxed when we eventually move money into Oz - so much for an international service. Contacted Prism Expat today but they only really seem interested in the Pension and want to charge £95 for a meeting to discuss Pension in more detail. Which I know we need to sort as well.
Feel as though I am going in never-ending circles. We are going on a 457 visa if that makes any difference. Has anyone else found an agency that can do both UK and Oz Tax advice before I go completely bonkers!
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Dizzy Blonde
457 applied for March 07, granted May 07, Arrived Perth Aug 07. Applied PR 16/5/08, PR granted 22/5/08
Put all of your money in a nice little offshore account say in the chanel islands and come to OZ with a couple of plastic cards. Tell the tax man NOTHINGHA HA
I was unimpressed with Prism, and have now contacted Alan Collett at GoMatilda, who posts on here. He knows both tax systems so should be able to help.
Hi Dizzy!
Just remember good advice is not free....... we found it hard to get good advice and used Geriant Davies at Montfort International....received great advice :
Montfort International plc
Geraint Davies
MD - Independent Financial Advisers
main +44 (0) 1483 202072
office fax +44 (0) 1483 202073
work 07974349937
There are some valuable tax exemptions in Australia for temporary visaholders - I have a free factsheet if you are interested. If so, send me an email with Subject Line Temporary Tax Resident Factsheet Request.
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Managing Director, Go Matilda, http://www.gomatilda.com
Registered Migration Agent Number 0102534 and Chartered Accountant (England & Wales, and Australia)
Offices in the UK and in Australia
Use a professional with both UK and Australia experience
Hi Dizzy
I would always suggest that you look for a professional tax adviser with both UK and Australian Tax and Accounting advice such as the Go Matilda service. But if you choose to look for a local service then make sure its your local australian one when you get here not a local UK one before you leave as the 2 tax regimes are totally different and it is the Australian tax system that you will be the one under which you are assessed.
I have seen people lose thousands for the sake of not getting proper Australian advice and acting hastily before coming over here.
With your pension, remember you have 6 months to transfer it after you arrive so you can make sure you are making ther right move before committing to a transfer.
Do you mean the Collett & Co website? If so, yes I agree the tax rates, etc are out of date - we are having a makeover of the Go Matilda and Collett & Co websites in the next few weeks, at which point the contents will be up to date.
In the meantime, yes we are very much still in business!
Best regards.
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Managing Director, Go Matilda, http://www.gomatilda.com
Registered Migration Agent Number 0102534 and Chartered Accountant (England & Wales, and Australia)
Offices in the UK and in Australia
I spent about an hour trawling Google Australia earlier tonight trying to find some links about LAFHA to add to a thread!
I dish out the link to the Collett & Co website like sweets but you can rely on me not to read the fact sheets because I am convinced that I don't understand a word of them.
However, I have just read and do more or less understand your sheet about LAFHA. (Enough for the general gist and I didn't want any muddling details anyway!) Thanks for the link because it will be very handy for other members of PiO.
Plus it is a lot better than Gill muttering to people, "LAFHA. God knows what it is but there are lots of discussions about it!"
Does the holder of a CP 173 visa get treated as a temporary tax resident in Oz, please? If so then there may be a lot of advantages in the 2 stage visa for some people? (You may not be aware, randpm, that I literally do cringe and creep away if I hear the word "tax." Alan does know this!)
=> YES, I THINK THEY DO. A SUBCLASS 173 IS A TEMPORARY RESIDENCY VISA UNDER THE MIGRATION ACT 1958.
Also, do they need FIRB consent etc to buy a house?
=> I THINK THE STATUS OF A SUBCLASS 173 VISAHOLDER IS THE SAME AS A SUBCLASS 410 RETIREMENT VISAHOLDER. IN OTHER WORDS, IT ALL DEPENDS ON WHAT IS BEING BOUGHT, BUT POSSIBLY YES!
Thank you
Gill
Comments above IN CAPITALS, Gill.
Best regards.
__________________
Managing Director, Go Matilda, http://www.gomatilda.com
Registered Migration Agent Number 0102534 and Chartered Accountant (England & Wales, and Australia)
Offices in the UK and in Australia
Put all of your money in a nice little offshore account say in the chanel islands and come to OZ with a couple of plastic cards. Tell the tax man NOTHING
HA HA
