Jon the Hat

1 hour ago, DrDougster said:

I agree some were caught by not registering to avoid taxes. But, people with holiday homes that intended to retire to had no reason to register for residency and they had their plans dashed.

From Australia, the UK looks like an awful place to be at the moment! 

Unless you fancy your chances of becoming a cabinet minister, in which case things are looking up!

On 15/10/2022 at 14:11, Jes11 said:

I've been looking on this site for a few days now and am very impressed with the help provided especially from Marisawright. Our  children want us to move to Australia to join our daughter who has PR. I'm currently aged 65 and my wife is 63.Can we apply for a subclass 143 offshore or do we have to have held the Investor visa since 2018? Our only other option seems to be the subclass 864. Am I right in thinking that we have to go to Australia to apply for this and then have to stay there basically as an unlawful resident on a bridging visa until the visa is processed? Our  children have had a discussion with an Agent who says the 864 process takes 3 to 4 years. The government waiting times site appears to suggest 6 to 7 years, but others say it could be 10 to 15 years. I'm confused. Marisa, could you help or could you recommend an agent? 

I hope your comments re Marisa mean you have already considered this, and I am sure it is tough if both (all?) of your children live (or will live) in Australia, but do make sure you are doing this because it is right for you. We all tend to idealise what it will be like - spending time with the kids and grandkids, but the reality may be you only see them once very few weeks (we all have busy lives) and cannot afford to live nearby, or the compromise to do so makes you miserable.  You will be giving up your home and friends (they generally won't visit even if they say they will with the best of intentions.)

It might all be brilliant and make you happy for the rest of your days, but you must consider it might not.

Oh another point, with NAB I was able to add my card to apple wallet the day I showed my ID in the branch rather than waiting 2 weeks for it to arrive.  Was very handy.

13 hours ago, ali said:

I love sports but not the beach (I enjoy the river more). To the OP  I agree with others, if it didn't hit the spot then cross it off your list.  I love it and felt the same that you did about Melbourne and Sydney - Australia is a big place - look for somewhere you'll feel at home

I much prefer the River too.  Same in Sydney I guess.

Perth is indeed isolated, but it also has everything you need  That said I travel quite a lot with work so who am I to judge!

Yeah I did it with NAB last year.  Just be clear you cannot withdraw any of the money before you show your ID in branch.

I like Perth but wouldn't want to live that far out - I live in Mount Pleasant - 15 minutes to the city, 20 to Freo / beaches.  On the river for kayaking, walking and cycling.  It is a very easy place to live.  I think Adelaide and Brisbane are too though.  Once you get further out it is houses and shopping centres and I can't think of much worse.  Some of the beaches are lovely though.

On 02/10/2022 at 20:49, benj1980 said:

I live in Mandurah and totally disagree. Yes there is Ice use, but no it's not everywhere. I've read several comments that you've made about this now and I don't think it's accurate. I appreciate it's one persons opinion against another but maybe this is needed in this instance for a more balanced view. I live in the suburbs but work locally within the Mandurah community. Realistically if you live in the suburbs you won't find the issues that you can find in the cheaper, centrally located housing.

It is one person's opinion against just about everyone else I think.  I suspect you have to be very unfortunate to find yourself in the midst of it.  

No, you need to apply for a Resident Return Visa.

It sounds like your so is still very young, so why not enjoy the inner west for a bit.  I would say though that on $100k you wouldn't want to spend much more than $600 a week on rent, so take a look at what that gets you on realestate.com.au.  You will indeed find you need to move quite a way out into the Western suburbs to get anything for $600k.  After a year or two though you might prefer to move somewhere else entirely so I wouldn't worry too much about that to start with.

As Marissa said, get it done asap and you will be fine.  Much better to get on with it.

5 hours ago, Ken said:

To solve the labour shortages that Australia is currently suffering from? Possibly not enough.

To significantly worsen the housing shortage that Australia is currently suffering from? More than enough.

There's always a lack of joined up thinking in Australia's approach to problems.

Even if there were joined up thinking from the Government - say a specific program to bring in construction workers - would the unions be willing to be flexible on qualifications etc?  I doubt it as that would reduce their members earnings.  

2 hours ago, Parley said:

Obviously. But it is a comment on the morals of thge action. Refusing to sign at the last moment.

2 hours ago, Alan Collett said:

I think it unwise to comment on morals - we each have our own compass on such things.

The legal position is that until exchange it is open to both parties to step away - as I'm sure you know.

The purchaser could just as easily withdraw.

Best regards.

They can and do pull out all the time. People lose/fail to get their dream home all the time.  Not really a moral question imo.  

2 hours ago, Cup Final 1973 said:

I can’t believe that Nanna is seriously thinking of backing out of selling her house with 24 hours to go.  I feel for the prospective buyers!

Its not uncommon in the UK before contracts are signed.  That is the nature of the process.  Until you sign you don't have a legally binding agreement.

1 hour ago, Nanna said:

We were discussing that till we saw the currency exchange predictions for the next 2 years or so.  So as the song says, it's now or never.

But thank you

I can guarantee the exchange rate won't move nearly as much as moving and moving back would cost you

1 hour ago, Nanna said:

I have never been indecivive before and of course money factors into life/lifestyle at any age/stage in life.  It's not about spending in its about spending it to enjoy life in the best way possible.

I still think rent your place out and see how you like life over there.  Low risk, low cost.  Rent somewhere nice near the kids and grandkids.  What's not to like?

9 hours ago, Maths_Teacher said:

Guys I get what you’re saying about buying/renting, but we can only move where the jobs are for my partner and that’s around the CBD. I’m not going to make her have a 2 hour commute both ways, it’s not reasonable and against why we’re moving out there. 

Its a fair call while you are renting, as long as you are aware than in a few years when you want a house and a garden for the kids you will likely be moving further out and getting that long commute.  Like you though I moved to Australia to ditch the hour and half each way commute into London.  Sydney is very much like London in that respect, most people do have a fairly long commute.

12 hours ago, Nanna said:

I did read further in the site that as non UK residents we pay a gain on any profit we make since 2105  - our house has doubled in value since then.  

We also pay UK tax on the rent, agency fees for looking after the booking  and property/ tenants rent insurance ( I think that totalled over 20% if the gross annual rent). and tax in the U K .  We then pay the higher value between the UK 20% tax and the Australian 35% tax as we would also receive  Australian wages, state UK pension and a small UK private pension taking us both over $45000 per annum.  

Our house, altho seafront and 4 beds would command £1800 - £2000 PER MONTH.  so factor in all the above and its never easy! If @Alan Collet knows different and can answer within 24 hours from now it might save us making a horrendous mistake.

 

Alan has confirmed I am correct above!  That's two accountants telling you your understanding of the tax implication is way off.  Rent your home out and move - yes it has some hassle and overhead but find a good agent and you will find it much easier.  

44 minutes ago, Ausvisitor said:

No, the Liz truss honeymoon period (feels yucky to write that) will cause a jump in the pound

I really hope so!  Need to move some cash before the end of the year and this is bloody depressing.

4 hours ago, Nanna said:

Thank you but we need to be physically UK residents and it would have to be our main home  to avoid tax according to gov.uk and of course we would be Australian residents.

 

 

Its not quite that simple, yes you would be liable for some CGT tax, but you get tax relief for years in which is was your primary residence (i.e. you spent more than 90 days in it) + 9 months, so in both the UK and Australia you pretty much only pay on any increase in the value after you move.  This is not my specialty but I am a chartered accountant so I think this is definitely worth you getting some professional advice from before you sell. 

Please please please do not base this on your reading of a website of what someone on the phone from the HMRC told you - they really don't know what they are talking about in many cases.

@Alan Collett am I completely of base here?

If I were in your shoes I think I would rent out my house, and come to Australia and rent somewhere nice near the kids.  You might not be able to BUY nearby, but perhaps you can rent?  Especially if your kids help out a bit.

I saw you posted something about high tax cost selling your home later, but I believe you only pay AU tax on the capital gain from the day you become a tax resident, and in the UK I am pretty sure you pay CGT from the date it stops being your main residence, so in the greater scheme of things not a big issues.

Before you settle on Sydney I would take a deep breath and look at salaries vs rent.  I chose not to move to Sydney despite a job offer, because I would have ended up mile from the sea and harbour to make it work finance wise.  There is more to NSW than Sydney, especially if you are a teacher and can work therefore anywhere there is a school.

1 hour ago, jicms said:

Thanks everyone. Jon, that makes sense of the antique wrap being brown packaging. I'll hold on all the boxes as they're not exactly cheap. 

To be fair they wrapped pretty much everything in it!

22 minutes ago, can1983 said:

Extremely low refusal rate for partner visas!

I wonder why they may you provide so much evidence when they all get approved anyway

I'm sure they would say it is because they ask for so much evidence that they approve so many, i.e. it puts off those who might be inclined to exaggerate their relationship.

2 minutes ago, rammygirl said:

They may be assuming you are using original packaging. 

They just wrapped ours in loads and loads of the brown padding stuff.