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Frank Oz

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About Frank Oz

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  1. I'm moving to Australia and trying to figure out whether it would be more financially beneficial for me to set up as a self employed sole trader or operate on short term PAYG contracts. I wonder if anyone can shed any light on this... In the UK I am a self employed sole trader who provides professional services in the media industry. When I submit my final invoice to a client I also add on roughly 11% for any paid holiday entitlement I'm due if I didn't use it up over the course of the contract (which I never do as there's never time to take a day off). Questions: 1) As a self employed sole trader in Australia is it normal to be paid holiday entitlement - or a specific percentage to cover other fringe benefits such as superannuation - on top of your regular invoice amount/rate? 2) Does the super guarantee percentage (currently 10% I think) apply to all PAYG workers? So am I correct in thinking 10% would be paid into your super account on top of your monthly salary? 3) Is there a national insurance equivalent in Australia or is it all rolled up into one single income tax? Thanks!
  2. Frank Oz

    The Commute... Dandenong Ranges to CBD

    Ok thanks Parley. Good to know it's a decent line. I do a mix of train/car in UK as good to have options, but generally prefer the train for those reasons. Quite happy to have an hour of peace at the start and end of the day. Plus, from brief investigation the fare for a day ticket is only 9AUD!? In the UK that length of journey would be about 20 quid!!
  3. Frank Oz

    The Commute... Dandenong Ranges to CBD

    Thanks Marisa. I'm in the South of England so that's a helpful comparison. A commute here that's meant to take 45mins can quite easily double... or more. You just factor that in, it's to be expected. Google maps suggests around 1hr give or take. If accurate, that doesn't seem so bad to me. I'll stay out of the who's the better driver argument until I'm there!
  4. Looking to move to Belgrave or thereabouts this year and wondering if anyone had good experience of the commute. How long does the commute take by car to/from the CBD? What's it like outside of rush hour? Would people recommend getting the train from Belgrave to CBD? Is it a reliable line or are there delays/cancellations all the time? From the comments I've been reading lately BTL on newspaper articles, Melbourne freeways are like glorified car parks at rush hour. Is this a huge exaggeration or near to the truth? I'm used to a 1hr+ commute in the UK anyway so anything similar wouldn't phase me. And where's the traffic worst - coming from the N, S, E or W suburbs? Thanks!
  5. Frank Oz

    Tax on UK earnings

    I might have a similar situation on my hands in the future... If the £1,000 p/m were paid into a UK bank account I assume that would need declaring on both UK and Aus tax returns? But it would only be taxed in Australia?
  6. Can I just check that as a total newbie I've understood this? My wife and I sell our home in the UK, move to Aus and become PRs and leave the money in our UK bank accounts for a year until everyone's forgotten about Brexit and GBP hits world-beating record highs again... We then each transfer the equivalent of $249,999 into our Aussie bank accounts on day X and then do this again a month later on day Y. Am I right in thinking there'd be no taxable foreign currency gains as the money was purely "private and domestic"? And no CGT either because each transaction is below $250k and CGT is calculated on a per transaction basis?
  7. Hi! Noob here so apols if this has been asked 1000 times before or isn't appropriate. I was just wondering if anyone had any experience of the following situation... I'm currently a self employed sole trader in the UK and will be relocating to Australia in Dec 2021 on a Subclass 100 Partner Visa. If I receive income from employment in Australia once I have relocated, should that income be declared on my UK tax return for 2021-22? Likewise, should any of the income I have earned in the UK prior to relocating to Australia need to be declared on an Australian tax return for the year 2021-22? Thanks, Frank