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Ken last won the day on August 17

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About Ken

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  1. Ken

    NIN issues. Need help

    If you are going to claim any benefits in the UK (whether a council house or anything else) you have to declare all the assets you own in the world. It's irrelevant whether you have brought them back to the UK or not. You may be confused by the rule on declaring amounts in cash that you bring back with you. There are no taxes to pay on amounts you transfer to the UK. Taxes are on income not on assets transferred from one bank account to another. I am surprised no one has asked if you can take your children to the UK. Regardless of whether or not their father is in their lives you will need either a court order that made you the sole guardian or his permission to change their country of residence.
  2. Ken

    Partner Visa 309/100 Medical

    I definitely didn't go into a booth or wear a headset in my medical (although it was many years ago now plus I didn't have any hearing issues to be investigated) but after all these years I don't remember what hearing test they did do. You need to bear in mind that the one and only reason for the medical is to ensure the costs of medical care for you and your dependents won't exceed the benefit to Australia of having you move to Australia. I don't see how your wife having weak hearing in one ear is going to be a potential cost to the Australian taxpayer at all - so unless you think there's some highly expensive operation or treatment and/or disability support that she needs in the long term you really have nothing to worry about.
  3. Freshening the place up is not part of a King's job description. Infact it would be unconstitutional for him to get involved in anything so political.
  4. Ken

    How is Megan doing so far?

    I'd missed that. Apparently it was announced earlier today but the last I'd heard he was still banned. No doesn't make a lot of sense but of course his dad is the King and can let him wear the King's uniform if he wants. It of course causes all sorts of problems with precedent when the King allows something that wouldn't normally be allowed - I can imagine ex-servicemen petitioning for the right to wear uniform at their relatives' funerals if Harry were allowed to wear at the funeral but who other than the royals conducts a vigil in public?
  5. Ken

    Closing UK Company

    Running a company at a loss where the only P&L activity is the expense of a salary below the tax threshold is definitely one way to get your money out of a company tax free although there there are some issues of legitimacy if it was really your income and not your wife's. Dividends below the tax threshold would work just the same as salary but for that to work tax free your wife would need to be the sole shareholder. Dividend income belongs to the shareholder you can't nominate who is paid. If any of the shares are in your name you might therefore want to consider registering the transfer of those shares to your wife at companies house before leaving the UK (there's no UK CGT on a gift to your wife). Then your wife can receive the dividends at an annual amount that keeps her below the tax free threshold until the company's cash is exhausted and without any worries about ever having to justify that your wife was earning that salary.
  6. Ken

    How is Megan doing so far?

    One of them? I think it's two of them. The clue is that a royal devil incarnate isn't allowed to wear a military uniform.
  7. Ken

    Capital Gains Tax on UK property due in Australia?

    Yes, you are going to want to put that capital loss on your tax return and carry it forward to when you do get a capital gain on something. Incidentally although the Capital Gain/Loss is in FY2023 and so you don't need to do anything with it for a while, you do have rental income in FY2022 that needs to go on your FY2022 tax return.
  8. Although there are some exceptions Australian pensions are not tax free. The following pensions are all taxed: Age Pension Veteran Payment Disability Support Pension if age-pension age or older Invalidity Service Pension if age-pension age or older And if you are thinking that Super is not taxed, no that was taxed at 15% when you (or your employer) paid in to it (and the highest rate tax payers paid 30%).
  9. Ken

    Capital Gains Tax on UK property due in Australia?

    No, if it was simply a gift that's not going to help. I was wondering if it had been inherited - although even that wouldn't get you a full exemption since it was rented but there'd still be a possibility of a partial exemption. Presumably you had an independent valuation done to establish the cost in September 2021?
  10. Ken

    Capital Gains Tax on UK property due in Australia?

    There's no notification as such for Australian tax. Assuming August 2022 is the correct date of sale then it will be reported as part of your FY2023 tax return - which if you do via a tax agent could be due as late as May 2024. The date of sale of a UK property is normally accepted as being the date that contracts were exchanged.
  11. Ken

    Capital Gains Tax on UK property due in Australia?

    Yes, you will have Australian CGT on the full gain. Based on what you've said you were an Australian tax resident (and not a temporary resident) for the whole time you held the asset and you held it for less than a year so no discount. You also say that the house was rented out. You also have to pay Australian tax on that rental income (less expenses). Note though you say you "took ownership" rather than bought. Depending on how you "took ownership" there's a possibility there may be an exemption that gives you time to dispose of the asset without a CGT consequence. Also note that you should compare the AUD value on acquisition with the AUD value on sale. While looking at it in GBP might give a small gain you may find there a small loss in AUD due to FX rate changes. Having no CGT to pay in the UK due to UK CGT allowances does not change your Australian CGT liability other than to give you no UK tax to offset against your Australian tax bill.
  12. No, (generally speaking) pensions are taxed in Australia regardless of whether they are for ill health or not. However you don't get taxed on a low income and you may be entitled to SAPTO (Seniors and Pensioners Tax Offset) which further increases the amount of income a pensioner can have before paying tax and you can claim a UPP (Undeducted Purchase Price) deduction of 8% of your UK state pension. You might be able to claim a UPP on your local gov ill health pension too - but you'd need to show that you paid into that pension while you were working and how much. This is all based on you being Australian tax resident on your worldwide income. If you only have a temporary visa then foreign income will be exempt but it sounds like you have PR.
  13. Ken

    Location location location

    As someone who lived in Melbourne for almost 10 years before moving to Queensland, I'd definitely recommend Brisbane. The bad news though is that the beaches near Brisbane aren't the best and because everyone wants to be near the beach they're also the most crowded and expensive parts of Brisbane. However you can easily find somewhere that is fairly rural yet officially still in Brisbane (Greater Brisbane is twice the size of Greater London but with a quarter of the population) and so in commuting distance. People also commute to Brisbane from the Northern end of the Gold Coast and the Southern end of the Sunshine Coast. Your budget would cover a 4 bed in the Western suburbs of Melbourne but not in the more popular South East of Melbourne. You'd have a much wider choice of affordable suburbs (some of which are fairly rural) in Brisbane.
  14. Ken

    Australian and UK Covid Responses

    But are you sure you're not dead? Have you been peer reviewed? We can't just rely on your opinion.
  15. Ken

    vehicle finance

    The restrictions on P platers vary by state. There are restrictions on what car P platers can drive in NSW, QLD, SA and VIC (based on a power to weight ratio) but in ACT, NT, TAS or WA a P plater can drive any car.