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TandT

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About TandT

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  1. TandT

    Confused about how health insurance works

    Thank you both. So we need to get Medicare cards, thanks for clarifying. I'm a little confused about the Medicare levy but I'll do some more reading around that. It seems a bit old fashioned that you have to go and wait in a centre to apply for a Medicare card during office hours (here in Adelaide, not sure if it's how it works state-wide) - not a problem for me but a pain for my partner and anyone else who works 9-5. I'll try and contact the insurance company too. As it was all arranged for us and we had no direct contact with the insurers (we just had to complete some questionnaires for partner's employer who dealt with insurer) I feel we're a bit in the dark about what exactly is covered and so on so I'll need to look in to it anyway. Good point about the ID - we are finding I need something more than what I have ID-wise for applying to rent a property.
  2. Hi everyone We've just moved to Australia with my partner's work on 457 visas. His work arranged private health insurance for both of us before we came, and we've got a copy of this policy but it doesn't go in to any detail of how the process works and I haven't been able to find out. I take regular medication so at some point will need to register with a GP here and start getting more medication. The insurers are aware of all the medication and told us it would be covered. As we already have health insurance does anyone know: 1. Do we need to get Medicare cards as well? (I don't think we do but could be wrong) 2. When I go to the GP and get medication, how do the appointment fees and prescription fees work - do I pay them upfront and then claim back from the insurance provider? Or is there some other system for paying through health insurance? Do I need to take a copy of the health insurance with me to register with a GP? If anyone could enlighten me I'd be really grateful. I have tried googling for this information but just seem to get bogged down in information about Medicare.
  3. TandT

    UK Tax on UK Rental Income

    @Marisawright Yes, it must be difficult if people have a fixed idea of a permanent place to live but don't yet have the permanent visa. I know a lot of people see it as all or nothing. I think we're quite used to moving around and exploring new opportunities, so we'll see what happens! It's a useful tip if we do decide we want to stay though so thank you.
  4. TandT

    UK Tax on UK Rental Income

    @Marisawright Thanks for the tip! We will bear it in mind. I think we'll have to see how things go and what our circumstances are like further down the line.
  5. TandT

    Shipping - where to start??

    We are in the process of arranging shipping from the UK to Oz at the moment (we haven't decided on a company yet). I wouldn't panic about the timescales too much, all the companies we have spoken to have said we have plenty of time to arrange it and we only have four weeks left until we leave the UK. So you should be fine time wise. I don't know if this will help but this is what we've found in our limited experience so far... You will find there are tons of companies out there (just do a search) and unfortunately they all seem to have mixed reviews. I think I've read terrible reviews for all of them having lost items, damaged items, and being a nightmare to deal with afterwards. We haven't found any company that has stood out as being better to be honest. I think it's pretty much a blind gamble as damage etc could happen to anyone, so just take out insurance. Be aware that they mostly (all?) contract out the moving, so you could have any removal firm turning up to move your stuff at either end. I'm not sure you have any control over this, so even if you read all the reviews about the shipping company it is likely to be an entirely different company that turn up to actually handle your belongings. Most of them seem to offer a packing service. Also consider whether you want to have a shared shipment or sole. Shared takes longer and from what I've read can potentially lead to more hassle, but again I only have knowledge of stuff read online and a few people I know who have shipped overseas. Shared is cheaper of course. In an ideal world you would send goods far ahead of time, but it's not always feasible for everyone. For example we don't have the luxury of UK storage, people we can move in with or a spare bed/mattress so there is no way we will be shipping it and sleeping on the floor in the UK for four weeks. Ditto with things like dining table, sofa, TV, and so on. If you're happy to live in an empty house, aren't shipping all your stuff and can manage with just some and then somehow get rid of it just before you leave, or have somewhere else to live before you leave, I guess it could work ok. None of that applies to us. We are well aware that this means our stuff might turn up weeks after we arrive, and we'll just have to deal with that and buy a bed etc in Oz if that's the situation. For us this is a better solution than having a very unpleasant four weeks in the UK - we have enough to do in the next four weeks without putting up with sleeping and sitting on the floor, not having a TV, etc! I did that once when I moved house (stuff was in storage and we decided to save money and just try and wait for it) and honestly made me really miserable - I got no sleep and hated being in the house. Other things to think about: - Additional fees at the Oz side which aren't included in your shipping quote, usually listed at the end and marked as excluded. - Restrictions on stuff that may be carrying soil - such as garden equipment - you'll face extra charges when it arrives if this isn't all thoroughly cleaned off before shipping. - Most will give you a quote based on some estimations you give them, and then come round to assess the amount of stuff you're moving to get a more precise measurement for space. So you'll get a final quote then. As I said, not sure how helpful this is seeing as we haven't actually shipped yet but maybe it'll give you a few tips.
  6. TandT

    UK Tax on UK Rental Income

    @Aussiepom Yes, it is a bit of good luck really - though obviously this would change in future if we were changing to residency. I hadn't realised visa type would have had an impact otherwise would have mentioned it earlier on! We have medical insurance provided by the employer thank you - one thing that is sorted!
  7. TandT

    UK Tax on UK Rental Income

    @Aussiepom Thanks for being so helpful. We actually contacted Alan via his website, just waiting to hear back. However we have since managed to establish some really good news by more googling - we're exempt from the Australian tax on foreign property rental. This is because we are on 457 visas (they've been phased out as you'll know but we got in on the last batch). Though we may apply for Australian residency at some point - partner's work have already mentioned doing this in future - at the moment we don't have to worry about it. Until we reach the point of knowing we'll want to outstay the visa (we have 4 years but have to make a decision by year 3) I think we'll just see it as a bridge to cross in future by which point circumstances could have changed wildly. I suppose you are on a permanent visa @Aussiepom so don't get this same benefit? We will however be in the same boat regarding remortgaging. Partner's had the Australian salary and contract agreed and I don't think we can ask for more at this point. But we'll look in to other options if we can!
  8. TandT

    UK Tax on UK Rental Income

    Thank you for your replies. I am disappointed about this, it's just not something we realised and will leave us in a bad financial position. Renting out our house is going to lose us money via the Australian tax system ? We thought we had been covering our bases by speaking to two UK tax advisors but obviously not - they didn't say anything about paying Australian tax on UK rent even when we asked them about what else to consider. Our fault for making assumptions and now it's too late to do anything about it! To explain a little, my partner is being transferred via work and we haven't had the luxury of months of being able to research all the implications. They've simply said they want him there ASAP, and we've gone along with it believing we'd considered everything - I think we have, apart from this stupid rental tax scenario! Our flights to leave the UK are in four weeks. Of course if I find out any helpful tips I shall pass them on @Aussiepom though it doesn't look like there is any way around it. Thank you also for the heads up about the remortgaging. This is going to be another shocker (after reading the other thread) and I fear it will mean we actually have to come home. We're not going to meet the HSBC criteria that you very helpfully posted about on the other thread. @Marisawright Thank you for the tips about the potential rent-related tax deductions. They seem similar to the UK rules (again something we DID look at!) but the depreciation report is interesting. I have found nothing online about such experts but found mention of this on here. I am unable to send messages to users at present - I guess I am still too new to the forum - but will try and find some way before we leave. Thanks again all.
  9. TandT

    UK Tax on UK Rental Income

    Oh and thanks for the information about the NRL form. We were aware of this already but I hadn't written it in my original post, so thanks for confirming anyway!
  10. TandT

    UK Tax on UK Rental Income

    Thank you for your reply Aussiepom. We finally managed to see a tax advisor over here, who confirmed that our UK tax-free allowance would still apply. Rent charged won't go over this threshold so that is what we wanted to hear (especially as the rent charged is not actually income for us to use - 90% of it will be paying our UK mortgage repayments and estate agents management fees, so we will see very little of it and won't be making any money). He couldn't advise us about the Australian system, understandably. We do need to fill out a self assessment form at both ends, so one for the UK and one for Oz, which was expected. We'll declare everything on both forms (all incomes in UK and Oz) which was expected too. I am a little concerned that you mention that we will be taxed on the rental in Australia though as we had assumed, from what the tax advisor said, that it would come under the UK tax-free allowance and therefore we would not be paying tax on it. We will obviously have to get advice from the Australian end once we are there, but in the meantime do you know any more about this? It would quickly become infeasible if we were paying 20-30% tax on the incoming rent, when 90% of the rent is covering our mortgage repayments (I understand mortgage repayments are not considered when it comes to rental income). Of course my partner will be paying Australian tax on his salary as per a normal Australian resident, and I will be too once I secure a job.
  11. Hi everyone, New here :-) We are moving to Adelaide in August with my partner's work. We have a home here in the UK that we will be renting out. I have tried looking online but keep going round in circles - we've spoken to a general accountant who couldn't help, and we're struggling to find someone specialising in tax and international stuff who's willing to advise. They keep telling us they can't take on new clients! I've tried the UK Money Advice Service but they just provided links to generic online information which doesn't help. I wondered if anybody could tell me from their own experience or otherwise whether we will be paying UK tax on rental income in our scenario which is as follows: - We own the house 50/50 so I assume any rental income and personal allowances will theoretically be split 50/50 - When we get to Oz, my partner will be working and paying Australian tax. I don't have a job lined up so may not be working for a while, if I do find something it will be part-time. I understand we have to notify HMRC and fill in self-assessment forms at both sides and declare everything. What I can't establish is how much tax we'll be paying, if any. Will our UK tax-free personal allowances still apply because we're earning in Oz - i.e. we can both earn up to £10,000 per year from the property without paying tax? We won't be making much money on the property as we've got our mortgage to pay, so it's actually pretty significant if a portion of that is going to the taxman as we need contingency for the house - so we want to get an idea of what to keep back for the end of the year. I've looked back through the forum but can only find general advice about notifying HMRC and doing a self assessment. Sorry if this has been asked many times before. Thanks! We'll look to join the Adelaide forum as well shortly.
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