Jump to content

Ken

Members
  • Posts

    3,146
  • Joined

  • Last visited

  • Days Won

    12

Status Updates posted by Ken

  1.  

    <p> </p>

    <p><p>Bobsdona,</p></p>

    <p><p> </p></p>

    <p><p>2) There is a difference between being an Australian resident for immigration purposes and being one for tax purposes. Hence if you get your PR visa but carry on living and working outside of Australia you will still be a non-resident for tax purposes and so not liable to Australian Tax. It's recommend you don't apply for a Tax File Number until you start living in Australia as (while not an absolute measure) getting a TFN will make it look as if your are a Tax Resident. If you open a bank account in Australia while a non-resident your interest will be subject to 10% withholding tax but that is all you will have to pay. If you're a UK resident you need to declare the Australian interest on your tax return but can offset the withholding tax paid against your UK tax, but it depends what country you are a resident in as to whether or not you even need to declare the Australian interest on your tax return.</p></p>

    <p> </p>

     

  2.  

    <p> </p>

    <p><p>Bobsdona, </p></p>

    <p><p> </p></p>

    <p><p>1) There is no tax on money remitted to Australia. Australian tax is only on income (including capital gains) while a tax resident of Australia. There is no limit on the amount of money you can bring to Australia - however if you are bringing in more than $10,000 in cash (whether in Australian dollars or other currency) with you then you are required to declare it (but it doesn't stop you bringing it in, it's just an anti-money laundering control). Similarly if transferring large sum you'll likely to be asked the source of it but there's no tax to pay.</p></p>

    <p> </p>

     

  3.  

    <p> </p>

    <p><p>There is no tax on money remitted to Australia. Australian tax is only on income (including capital gains). There is no limit on the amount of money you can bring to Australia - however if it's more than $10,000 in cash (in Australian dollars or not) then you have to declare it (anti-money laundering rule).</p></p>

    <p><p> </p></p>

    <p><p>There is a difference between being an Australian resident for immigration purposes and for tax purposes. Hence if PR but still living/working outside of Australia you will still be a non-resident for tax purposes. It's recommend you don't apply for a Tax File Number until you start living in Australia as that might make it look as if your are a Tax Resident. If you open a bank account in Australia while a non-resident your interest will be subject to 10% withholding tax but that is all you will have to pay. If you're a UK resident you need to declare the Australian interest on your tax return but can offset the withholding tax paid against your UK tax.</p></p>

    <p> </p>

     

  4. <p><p>Khurram, DIAC only accept Police Checks that are less than a year old. You'll need to obtain new ones.</p></p>

  5.  

    <p>Cazzydee,</p>

    <p> </p>

    <p>Will do so.</p>

    <p> </p>

    <p>Ken</p>

     

×
×
  • Create New...