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can1983

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About can1983

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  1. can1983

    Renting my uk house, pretty urgent

    As above fill out the NRL1 form and you will not pay tax in the uk at source or at the end of the tax year (still have to do a return) if the rental income doesn't exceed the tax threshold. If you don't fill it in then the agent will deduct 20% and you have to claim it back via self assessment. You are gonna be up for paying all of the tax Australia levies on rental income (at least aus let you deduct interest!) and wont get any credits on the uk tax already paid under double taxation rules because you haven't paid any! We sold our uk home as we were settled here and don't ever want to return. We had no mortgage though and tax bill was going to be very high. But I understand you wanting security if you want to return. Must say though its stressful being a landlord overseas, every storm that happens you dread the email saying there's a leak or fence fell down blah blah. Repairs cost silly money because they have you over a barrel.
  2. can1983

    Vaccinations

    We had the same thing in Tassie. They have the first jab then the doctor records it with an agency which let centrelink know the child is on a catchup program. This allows you to enrol and claim childcare subsidy, but there is a delay before you get it sorted so you might pay full fees for a short time then claim it back automatically. If you don't get the second/third one done the childcare subsidy is removed.
  3. can1983

    Been here a while.

    Point was valid i think. Unless you've lived in Narrabeen for 20 years or live in a unit youve gotta be a millionare. it's millions for a family home.
  4. can1983

    Funds required for migration

    It seems so. Im amazed so many people invest so much its a big cost. Ive done it twice and had a job lined both times
  5. can1983

    Funds required for migration

    sure, I just don't agree $7000 is a drop in the ocean I found it a shockingly high fee
  6. can1983

    Funds required for migration

    Don't agree. My employer payed for flights, temp accommodation and shipping of goods and insurances. My partner visa of $7000 odd was way over 50% of our costs to move
  7. can1983

    What did you do in Tassie today?

    Three falls walk at mt field today lovely day even saw a platypus
  8. can1983

    Managing a large bank transfer

    A CHAPS is only 20 or 25 quid I think. I wouldn't mess around with little bits at a time. what happens if the rate gets worse between the first transfer and the last? you could lose out on thousands of dollars. This whole process is very difficult to call. In the end we rushed everything over as quick as we could after settling the uk house sale. The exchange rate fell after that day and only recovered above what we got after we have completed on our Australian home. In that regard we could not have done better but we were very lucky.
  9. can1983

    The weather in Tasmania today

    amazing sunrise this morning. One of the best things about living in Tassie compared to the UK is that even in mid winter there's some colour and its nice to be outside. The grey skies is one thing I'll never miss about the UK!
  10. can1983

    Managing a large bank transfer

    I suppose you can avoid the fee, but its 2-3 hours and fully tracked for GBP20 fee. If you do a normal transfer its 3-4 days to clear and if it 'goes missing' the bank then investigates what has happened which can take a little while to sort out. When you are talking about a quarter of a million quid I wanted it to appear as cleared funds as soon as possible and be fully tracked all the way
  11. can1983

    Managing a large bank transfer

    Yep i did a bank transfer into 6 figures into moneycorp sterling account (euro for you of couse) Once the funds arrive you can switch it all to dollars when you choose the time you're happy to pull the trigger. Then move to mainstream aus account. There are small fees for bank transfer to moneycorp but its so much better than direct retail bank to bank Cant say it wasn't stressful though! I actually moved £50 first to check the account numbers (cost me £20 fee for the conference )
  12. can1983

    Been here a while.

    This topics been done before hasnt it?
  13. The problem is that tax authorities in both uk and aus and possibly around the world create these stupid systems which are overly complicated so that many people have to pay accountants to sort it out. This creates more work for accountants. Nobody ever paid any NRCGT, its just a UK political vote winner, the only money changing hands is fines to the tax office and fees to accountants. Accountants are very useful people in the right circumstances and are highly trained individuals. I used to run a business in the uk and in this case their support and skills were invaluable. The reason people don't; like them, particularly in Australia is that the likes of H&R block are pretty much leaching off the fact that Australia makes everyone do a tax return even one job salary people and claim they can save their fee with deductions alone. Once you actually use them all they can come up with is $35.86 in laundry fee deductions and a $300 bill
  14. Sure not filing ontime is not a good idea. The system is very awkward to use i should say you have to email computations to an email address after getting the confirmation of receipt and then nothing more happens.. In a way that's why its set up to benefit accountants most of all, system for systems sake no tax to pay only fines for filing late
  15. I read up on this heaps. If you sell within a certain time (18 months I think, its changed recently) there is never anything to pay you are immune. But you still have to do a non resident capital gains return within the time limit (which is quite short). I did it got a low key email a few weeks later saying it had been accepted. Hardly anyone has to pay anything in any case. There are three ways to calculate the cg and u can pick the best for your circumstances You can get the valuation when u leave but its the value in 2015 that counts which is strange. .. if you leave in 2019 sell in 2022 for example you will, depending on the gain pay some ratio of 3 out of 7 years gain depending on the method u choose. Really the main benefactor are accountants. They charge a few hundred quid to do a return for a zero bill. I did mine myself but it was simple as sold within 18 months of leaving uk
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