rbrooks

In talking with her, she didn't provide anything else specific because all the ATO has is that one web page. I was re-reading this with a friend and we think the devil is in the wording "unused concessional contribution cap that has accrued". If you are not in the country then nothing has accrued. It can't accrued because you were not in scope in those prior years as you were in the UK. If you squint your eyes and look at it sideways-funny, you can kind of see how that logic might be buried in there...

I rang the ATO Super phone number on 13 10 20. They say that for immigrants (and for young people just joining the workforce) who haven't paid into a Super in some of those previous years, that we cannot use those years' "carry forward unused contribution cap amounts". The lady was quite insistent that she got that correct and is a Super specialist at the ATO. She referred me to ATO's official web site on this: https://www.ato.gov.au/individuals/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap/#Carryforwardunusedcontributions But the web site says nothing about how this works for people joining the work force new. In fact when I searched the internet I couldn't find anything on it. So I've paid extra into my Super beyond this year's cap and now I will have a tax bill I wasn't expecting... Does anyone on this forum know if that lady has it correct?

As someone mentioned, yes, this is one of the more useful threads. Thank you. I've got some questions too... My spouse and I are UK citizens who arrived here late last year with a visa that gives us perm residence status. My spouse hasn't been working here yet. We had already put our UK house up for sale before leaving. It was our only house and primary residence and was in both of our names. Since arriving in Australia we've been renting. Our house finally sold last month for a bit more than the asking price. For HMRC capital gains purposes I've done the non resident calculator and submitted the online form. As it was primary residence for many years, no capital gains taxes to pay in the UK. Half of the value of the house was in principle and the other half was a bank loan, i.e. ~50% LTV. GBPAUD on the day we landed in Australia was ~1.825 and ~1.708 when the house sold, i.e. Sterling weakened 6.4%. The loss in AUD from foreign exchange is larger than the gain from the house sell for more than the asking price, i.e. from an AUD perspective we're worse off than on the day we landed here. The house sale proceeds are still in GBP but we're thinking to move those into AUD soon. Questions: Does the house sale and capital loss have to be reported on my Australia taxes? Or does it not qualify as a loss as it was primary residence? Or just 50% of it? Bear in mind I wouldn't mind showing some capital losses to deduct from my income. If it does show as a capital loss then: Is the foreign exchange rate taken from the day of sale or on the day we physically sell the proceeds for AUD? is it on the full value of the house, or just the principle? What about the house loan? do we split the loss between me and my spouse or can I show the full amount on mine? From an Australian foreign exchange loss/gain perspective what happens with the house sale proceeds when we/I exchange those to AUD? Does the calculation look back to the original day we landed in Australia (loss) or from the day we sold the house (gain, so far)? As I'm the one working and with a higher tax rate, should I FX into an Australian AUD account in my name only or in our joint account? Bear in mind if it's a loss then better to show all of it on mine only and then gift it back to my spouse shortly thereafter. Basically I'm trying to make lemonade out of the lemons the weaker Sterling has cost us. Ideally I would like to show on my Australian taxes (a) the full AUD capital loss on the sale of the house from arrival to sale date and (b) the full foreign exchange loss on the house proceeds and other GBP savings from arrival to now(or soon). Thank you.