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Alan Collett

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Alan Collett last won the day on September 7 2022

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About Alan Collett

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    PIO Chatter Box
  • Birthday February 13

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  1. The deadline for appointing a registered tax agent and securing an extension of the 31st October 2023 for filing your personal 2023 Australian tax return is now only 5 weeks away. If you want more time to prepare and submit your 2023 Australian tax return you should be on a registered tax agent's lodgment program by the end of October 2023. Doing this can also push back the due date for paying any tax owing to the Australian Taxation Office - so if you have untaxed income from a source such as a positively geared rental property or a capital gain from the disposal of a property or shares you are likely to benefit from appointing a registered tax agent. https://www.ato.gov.au/.../How-to-lodge-your-tax-return/...
  2. https://www.gm-business-visas.com/business-skills-visa-applications-the-latest-statistics/ Details we have received from the Department of Home Affairs indicates there are nearly 20,000 applications for subclass 188 provisional visas awaiting a decision, of which 14,000 are applications made by business owners. In the case of the 14,000 applications made by business owners these are applications made by individuals who are required to set up or acquire a business in Australia and to run it for at least 2 years before they apply for permanent residency under subclass 888. Being business owners the applicants are - as a rule - entrepreneurial, risk takers, and employers of Australian citizens and permanent residents. So what does the Australian Government do in response to these applicants? It reduces the number of visas to be granted in the program year to 30 June 2024 to 1,900 from 5,000 - meaning some applications will take nearly 10 years to be granted. Is this the message we want to send to risk taking business owners who want to move to Australia? Surely not! Best regards.
  3. Alan Collett

    Partner Visa Queries

    Lodging a complete decision ready application is the key. Not necessarily simple ... Best regards.
  4. For the UK CGT there are 3 ways to calculate the capital gain - you choose the one that provides the best outcome for you. Rebasing to April 2015 usually provides the best outcome, but not always. There is a need to submit a special CGT return with HMRC and to pay any CGT owing within 60 days of the sale completing. In Australia the capital gain is calculated with reference to the value of the property on the date you became a permanent visa holder. We then apply an A/B fraction to strip out the amount that is CGT exempt. If I may I won't dive into what periods are in A and what are in B. Note also that in Australia a former main residence that is income generating can be treated as CGT exempt for up to 6 years - so long as you don't treat another property as being CGT exempt for the same period of time; generally you can only have 1 x CGT exempt main residence. If you want to explore this more fully and would like a freebie initial chat feel able to complete the enquiry form at bdh Tax (see my signature block below). Best regards.
  5. Alan Collett

    Partner Visa Queries

    Hi ChrisAC. In case of interest here are some stats for a sample of our recent partner visa applicatons submitted for UK based clients: Best regards.
  6. It's on the Department website ... https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-processing-times/family-visa-processing-priorities/parent-visas-queue-release-dates Best regards.
  7. Alan Collett

    Rental income from UK

    Hi Kelly. Yes, it sounds like you aren't ticking the right box/es on the SA109. Boxes 15, 16, and 17 should be completed (where relevant). Best regards.
  8. Many thanks for asking us to help, Lesley. Happy day! Best wishes.
  9. Alan Collett

    Asking for a friend...

    This is a UK tax issue. If taking a lump sum some of it may be tax free. See here for commentary: https://www.gov.uk/government/publications/pension-tax-for-overseas-pensions-additional-information/pension-tax-for-overseas-pensions-additional-information If taking a pension (regular income) it is likely to be be taxable in the UK. If monies have been drawn from the Aus super fund and are now in a UK pension fund hopefully some professional advice has been taken. Best regards.
  10. Alan Collett

    ATO position on UK SIPPs

    Thanks. Likely the SIPP is not therefore Aus resident. Best regards.
  11. Alan Collett

    ATO position on UK SIPPs

    Who are the trustees please? Best regards.
  12. Many thanks for your kind words. Best wishes.
  13. Alan Collett

    ATO position on UK SIPPs

    Who is the trustee of the SIPP please? Best regards.
  14. Patience! All good things come to those who wait! They can apply for a subclass 870 visa maybe ...? Best regards.
  15. No credit for the Visa Application Charge paid already. Remember Ministerial Direction Number 103 is available to you. https://www.gm-parent-visas.com/an-option-for-subclass-103-and-804-parent-visa-applicants-ministerial-direction-83/ Good luck!