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MaroubraAndy

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About MaroubraAndy

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  1. MaroubraAndy

    Sydney property

    The government need to move away from incentivising buy to let by removing the rediculous tax breaks available. The U.K. have done a great job in this regard by stopping individuals from deducting mortgage interest from their buy to let profits as well as imposing additional stamp duty for folks buying additional properties. This has led to many buy to let investors (myself included) exiting the market as the returns arent worth the hassle.
  2. MaroubraAndy

    Sydney property

    Solid commentary there.
  3. MaroubraAndy

    Sydney property

    Lol @Wanderer Returns why thankyou, I think
  4. MaroubraAndy

    Sydney property

    Interesting conversation and it’s certainly an approach I’ve considered especially as I’m a very active equities investor. Problem for me in Australia is the tax treatment of share investment sucks as all profits are added to your gross salary and taxed at your highest rate. There’s no tax efficient investment vehicles in Oz such as ISAs as there are in the U.K. baring super. Rent vesting is certainly an option or another thing I’ve considered is just saying balls to sydney, buying a place in Brissy and just travelling down for a couple of times a month.
  5. MaroubraAndy

    Sydney property

    Yep, I can certainly relate to all that you’ve said there! Maroubra is crazy horses these days. The economics simply don’t make any sense, but hey, I’ve been saying that for years and things have just continued to march upwards.
  6. MaroubraAndy

    Sydney property

    So I’m shifting back to sydney with the fam shortly, and need to look at buying something. Prices have obvs been insane for sometime but lately they appear to have gone parabolic. Im literally starting to question the value proposition of moving back to sydney if the cost of doing so is soo ridiculously high. The whole quality of life argument starts to erode if you’re taking on such a mountain of debt that you can’t actually enjoy what the city had to offer. There’s obviously always been a disparity between the U.K. and Sydney in terms of pricing but right now my lovely 4 bed house in Herts is about half the price of a 4 bed single story cr@p hole in the Shire! Feeling very frustrated!
  7. MaroubraAndy

    Ahhh the challenge of being a migrant

    If I’m completely honest with myself, if the job opportunity both in terms of experience and financial gain wasn’t what it was, I wouldn’t be considering moving back to Sydney at this specific point in time. I’d spend a few more years in the U.K. enjoying what it has to offer prior to moving back to Oz in the future. That is essentially the crux of the issue.
  8. MaroubraAndy

    Ahhh the challenge of being a migrant

    Both of your comments Perth1Paul and Marisa are spot on and I totally agree. I guess if I were FULLY committed to it being a 1 way trip I’d sell my U.K. house and fully invest in Sydney in a heartbeat. The fact that I can’t for some reason being myself to do that gives me cause for concern!
  9. MaroubraAndy

    Ahhh the challenge of being a migrant

    It wasn’t that we couldn’t afford to buy in Sydney at the time, I kinda of just couldn’t commit to buying a place as it felt like a level of permanence that my head couldn’t deal with. When we came back to the U.K. we bought a family home straight away and plan to keep it. Whilst buying in our previous haunts in the east might be a stretch, things seem a lot more affordable alittle down south so hopefully that shoudnt be too much of an issue. Im conscious this all sounds like a load of BS to most people, who probably just read this and think ‘just get the f@@k on with your life and stop p&ssing and moaning’. But I guess everyone’s issues are relative to their own circumstances.
  10. MaroubraAndy

    Ahhh the challenge of being a migrant

  11. MaroubraAndy

    Ahhh the challenge of being a migrant

    Hey guys, OP here, To answer your question we were very happy in sydney with a wonderful long established circle of friends. We hadn’t however bought property in sydney so there was that part missing so to speak. Both sets of our parents are in the U.K. and mine are fairly elderly and just about coping, I’m also an only child so feel a sense of obligation even though in honestly I’d never want to be in a position where I have caring responsibility for them. Whilst I certainly already feel a sense of guilt at the thought of leaving them, I absolutely know I/we need to make life choices for us and our kids, but knowing it is one thing, doing it is quite another. I think as a couple of folks have suggested, I just need to head over on my own for alittle while and see how it feels being back over there again. I think I’ll either settle straight back in and love being back or have a massive allergic reaction to it!
  12. MaroubraAndy

    Ahhh the challenge of being a migrant

    Well things have been ‘interesting’ for the last few months since my post so I thought I’d provide an update. Essentially we opted for sydney with view to me flying out alone to basically set up a bunch of stuff like, house, schooling etc but the flight ended up getting cancelled. I then started working remotely for my new company in Oz and we booked tickets for the whole family to travel out on May 3rd. Between these times things got a bit crazy, The job was/is going wonderfully but we oddly seemed to be settling even more into our U.K. life. Essentially I/we seem to be even more conflicted around the situation made worse by the impact Covid will have on our family’s ability to travel out and see us. In tandem the stress of the situation has resulted in some pretty big issues surfacing with my side of the family. All of which means we’ve basically just put our heads in the sand.. We’re now a week out from departure date and we’re no way ready to leave, physically or emotionally. The options we have now are I either go out initially by myself and we cancel the three other seats. I get back to sydney and remember what it was like to live there for 6-8 weeks then if everything feels ok, the wife and kids follow. Or we can the whole thing completely. We’re essentially both completely frazzled and seem unable to resolve the best path forward.. uggghhh!
  13. MaroubraAndy

    Missing the UK

    Everyone’s journey is different, I moved out to o in 2008 and lived their for 10 years before moving back to the U.K. in 2018. Personally I loved every minute of it but always had in the back of my head that we would move back to the U.K. at some point. When we eventually got back to the U.K. the place seemed so alien, we simply couldn’t get our heads around how crap everything seemed, it’s been 3 years now and although we’ve adjusted, life just doesn’t seem so sweet. My point is, the longer you’re away harbouring thoughts of the U.K. but all the while adjusting to life down under, if/when you eventually make it back, you might be surprised by what you ‘thought’ you wanted..
  14. MaroubraAndy

    U.K. ISAs

    Thanks guy, that all makes sense.
  15. MaroubraAndy

    U.K. ISAs

    Hi guys, ive noticed a couple of posts on this subject but my question is slightly nuanced so didn’t want to take over any of the other threads. Question is, if Im duel U.K. and Aussie citizen and have stocks and shares ISAs in the U.K. from my time living as a U.K. tax resident. I then move to Oz and become an Aussie tax resident. I know I’m allowed to keep my isas but not contribute to them further. I also know I have to declare interest as part of my Aussie tax return. However I’m wondering on what sorts of activity would constitute something I needed to declare? I’m assuming all dividends would need to be declared and if I made a cap gain as a result of trading activity that would also require declaration. But what about unrealised gains, for example say I’ve held a tech stock for 10 years but don’t sell it thus the gain remains unrealised. Surely I wouldn’t have to declare unreleased cap gains on a yearly basis?
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