DIG85

Lots of assertions being made, but no evidence being provided whatsoever.

Repetition doesn't mean something is right, though. Professionals aren't always correct, either. I have seen more than one response to finance/tax questions from professionals on this forum which I have been absolutely certain were wrong. No one is right 100% of the time, even in their own field. The only thing that is known for sure is that citizenship applications are not approved whilst the applicant is offshore (except in the most limited of circumstances which to all intents and purposes don't apply to the average person).

Any source for that? It's not something that is stated by DIBP.

That’s not quite the whole story though. A holder of a temporary visa is not regarded as a temporary resident for Australian tax purposes where their spouse is an Australian resident within the meaning of the Social Security Act 1991. A person is an Australian resident within the meaning of the SSA if they reside in Australia and are either an Australian permanent resident or an Australian citizen. The OP’s wife would be regarded as an Australian resident within the meaning of the SSA and therefore the OP would be regarded as Australian tax resident (and therefore subject to Australian CGT on UK assets) notwithstanding the fact that he only held a temporary visa. However, as you imply, the point is moot because the OP is an Australian citizen and lives in Australia.

I'm not sure it is true that they will only process it while you are onshore, although you need to be in Australia to sit the citizenship test. They will certainly only approve it while you are onshore.

I understand at the time it was bought the intention was to rent it out, but did you ever live in it and if so for how long? No, the ATO would not accept the April 2015 value and the purchase price in 2000 would have to be used. The 50% CGT discount should be available.

I never heard addeeedas in the UK. Always heard addidas.

You don’t have to stay in the country until the application is approved. You should apply now. The application wont be approved whilst you are in the UK, but based on current timing guidelines, it is likely that it wouldn’t be ready to be approved at that time.

No you don’t. Where did you read the bit you quoted? It isn’t correct AFAIK. You must be in Australia for the application to be approved, but you don’t need to be in Australia for the entire processing period.

I should have been clearer: if it’s simply to “translate” the will into Australian law, as FWP was referring to, it should not be regarded as a new will. Generally if making a new will you would write that this is my last will and supersedes all previous etc…..

Whether the new country recognises the jurisdiction of the country where you made the will is a different matter from whether the will is still valid in the original country. A will drawn up in E&W does not cease to be valid merely because the testator has left the country. A will would cease to be valid if a new will was drawn up (regardless of where the new will was drawn up) or if the testator marries. It does of course make sense to have wills drawn up in each country so that UK assets can be disposed under UK law and Australian assets under Aus law.

That's sounds like BS to me.

When I most recently applied for an Australian mortgage (November 2020), my broker told me not to disclose UK assets or liabilities. So I didn’t. Whether the broker advised me not to because there is no requirement to do so, or because it would improve the chances of my application being successful, I know not.

UK CGT now applies to non-residents on the disposal of UK residential property. Principal private residence (PPR) relief no longer necessarily covers periods spent living outside the UK. Australian CGT could apply on the basis that Australian residents are charged on disposal of their worldwide assets. Aus CGT should only apply if the property is sold more than 6 years after leaving the UK.

1. No tax in either the UK or Aus if you sell the property before you leave the UK. 2. If the property is sold after you leave the UK, tax could be payable in both countries, albeit Australia will allow a credit for any UK tax paid.

It is. It's all pretty obvious really.

Even if you're not heading back to the UK, you should seriously consider doing cancelling all super insurances anyway. Super insurance is one giant rip off: the cover you can get for paying premiums to a third party life insurer is an order of magnitude greater.

Only a study which completely ignores Indigenous Australians could ever reach such a conclusion. The only other place in the developed world where I have seen poverty on the scale experienced by IA is the Deep South of the USA. Even the poorest residents of Glasgow are better off.

But Australian rego includes insurance. In the UK, car insurance is separate and very expensive - more than the equivalent of $800 usually.

Completely agree. The idea that there's no class system in Australia is an utter myth. Any country which doesn't levy IHT is never going to be a classless society.

I'm not sure it does. Comparing Aus to UK is really eye-opening. Almost everything you buy in Aus as a consumer, from groceries to hardware to electronic devices, is considerably more expensive than in the UK. Compare for example B&Q with Bunnings. Almost everything at B&Q is ¼ the price of what we pay in Australia, from tools to paint, damn near everything. You see the same thing comparing Tesco to Coles. UK real estate being expensive sort of makes sense since the cost of living is very low in UK compared to here (average family spends just £60 pounds per week on groceries compared to Aus, where the average family is nearing $300/wk in proceries). The only thing which is obviously cheaper in Aus is petrol, rego and insurance, but even that is offset by the fact that cars themselves are more expensive here.

That's not correct. You aren't required to enter the UK on a UK passport if you hold one.

An Australian citizen does not need a visa to visit the UK, so they won't ask to see your UK passport when you check in at Melbourne.

I have never been required to provide passport details when booking a flight.

Fair enough. In your circumstances I would have gone to the non-UK queue and saved half an hour. Your call. The gov.uk is clear on the matter - all that is required is a valid passport. There is no requirement that it be a UK one.