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Found 661 results

  1. Hi, does anyone know what the tax on goods is when moving to Austalia? I'm getting a lot of misleading information. We have some things that are years old and are clearly exempt. We've also got new and nearly new (within 12 months) kitchen equipment, and possibly a new mountain bike too. Everything cost less than AUD1,000 which someone said was the threshold for tax. Thanks for any help, PJ
  2. Andy Sephton

    UK and Australian tax years

    Hi, I have recently become an Australian permanent resident, meaning I now have to declare my UK income here. My question fro this forum is does anyone know if I have to declare my UK income for the last UK financial year (April 2013-March 2014) or for the dates of the Australian financial year (July 2013 - June 2014). Just a bit confused as I have only paid tax on my UK income up to April 2014 so not sure how to report my income and how much tax I have paid on it in the UK from the period from April to June this year. Hope that makes some kind of sense and that someone can help me. Thanks.
  3. Hi Guys, Wondering if anyone Sydney based has any recommendations for tax agents. My husband and I have been here for 6 months and we will be owed some tax back but keen to get some help for the first year and use a tax agent. There are so many out there, prices vary so looking for any personal experiences/references you can share so we can get booked in and get the ball rolling. Cheers
  4. Hello folks Please can you help us as we are possibly planning on selling our rental property to fund a new home in Oz and as its not our main domicile I think we may be hammered by the dreaded tax man? Does anyone know the exact figure on this? Or would it be better to hang on to the place and keep renting out for a few years.......? I hate decisions.......arrgghhhhhh Sometimes I think we should just sell the lot and go for it...... Many thanks Nom n Nat
  5. We know about the $$$ airfares, removalists, pet relocation - but what about the HIDDEN LIABILITIES - TAXES? You sell your home - will there be anything left for you? You pay in to Super? Is any of it yours! I'm sure it's all there on the official sites, but I'd like to hear it from the folks who've been there, done that & survived (or who learnt the hard way) :frown: Just wonder how long you have to work before the move becomes affordable & viable? Thank you :notworthy:
  6. CecilSeeley

    Paying Tax on 457

    Here on a 457 and stated income on Visa acceptance was 85k. Due to downturn in mining actual income will be less, and ongoing will be lower. My company will reduce the amount it pays me due to downturn. I am happy enough with that, as it make sense, and my partner is working anyway. Does my company have to admit this change in income to Immigration? Will they rescind the 457 because of the change if they do? Or should I just pay the reduced tax amount and see what happens? In other words, do ATO speak to immigration? Thanks for any help
  7. http://www.gmtax.com.au/2014/04/tax-deductions-in-australia-on-uk-rental-property-depreciation-as-a-tax-deduction/ I recall seeing a number of posts on the Poms in Oz forum over recent years enquiring into the ability to claim a tax deduction in Australia for depreciation on property in the UK that is being rented out. Some may know that if you buy an investment property in Australia it is possible to claim a tax deduction for depreciation on various items in the property, including (frequently) the cost of the building. This is usually made possible by instructing a Quantity Surveyor who prepares a detailed Depreciation Schedule, which details the various assets in the rental property, and the amount that can be claimed as a depreciation tax deduction on the property owner's tax return each year - the Schedule usually details amounts that can be claimed for many years in the future (assuming you don't sell the property). Until recently it was not possible to obtain this Schedule in respect of property in the UK - there were no QS's preparing them for property outside Australia. However, we have recently become aware of a firm with a national presence in Australia that is now able to provide Depreciation Schedules in the UK. Given that the cost of having a Depreciation Schedule prepared is also tax deductible this seems to be a win win outcome for Australian residents with rental property in the UK! Hope this is of interest to those with rental property in the UK. Anyone who is interested in knowing more should feel able to make an enquiry at this webpage: http://www.gmtax.com.au/contact/ Best regards.
  8. Hi Guys My wife might have the opportunity to work as a consultant remotely for her current company (in UK) from Oz. We will both be on the 190 visa. Are their any legal issues that we must consider about going forward with the consultancy? Can she actually do it while on this visa? How does this influence Oz taxes? I hope someone can help. Thanks
  9. I am selling a property in the UK which used to be my home, but have been renting since being resident in Australia from January 2007. I've been advised by Australian accountants that because the property was my home, I wouldn't be subject to CGT tax in either country, however I also read elsewhere that to be exempt from UK CGT you need to be non-resident for 5 full tax years - but does this apply to properties that we lived in? Has anyone had any experience of this? Maybe I should just contact a UK tax advisor?
  10. Need advice or contact details of anyone who can advise.. Have a large number of bank shares (used to work for a big4 bank & had them as part of sharesave schemes), which are obviously not worth the paper they are written on at moment & certainly not what I put into them! Was going to leave them in UK with the hope the price MAY eventually go back up enough so I can at least get my money back. But am concerned about any tax implications if I sell them once resident in Oz. How do they calculate any 'gain' for tax purposes, coz if they rate it on the value when we enter Oz (which is less thean £1 per share at mo!) to when we sell - we r b******d! I have p/work to prove/confirm the share price when I bought them, so would this be enough to avoid CGT? Also are there personal limits each year (like in UK). All shares are currently in my name so wondering whether it would be worth transferring some to OH so we have bigger limits if applicable? Also have endowment policies - which again didn't want to cash in yet as unit-linked so not worth much yet. How would tax work if we waited for it to complete in 2016 or cashed it in -once in Oz? Thanks to anyone who can help.... Kath
  11. stockersmc

    ADC Certification

    Hi all. My partner and i are looking to migrate to oz, fingers crossed everything will go to plan. I am currently pulling together all documents for the ADC certification to get signed by a notary, i have all of the relevant documents but my only confusion is the 'employment history' section, do any UK dentists (or people in the know) know what tax documents need to be supplied? the guidance note states "Certified copy of apporopriate evidence of self employment eg tax documents". Thanks a bunch :wacko:
  12. Hi there, I am English and 14 years ago, moved to Australia to be with my Australian partner. I have never really felt like Australia is "home" but have tried hard for my partner and we have bought a house in Melbourne and previously lived in Newcastle and Paramatta. For various reasons, including going through breast cancer, we are thinking of going back to the UK to settle. The main kicker is the awful exchange rate........ really wish it had got a lot better after 14 years, but it is what it is ! The other real decider for us is UK pensions, as we are not getting any younger, my partner is 50 and I am 40. My partner could earn a good wage in the UK and works in the finance/law sector and work in IT/admin but pensions worry us. Before I left the UK, I had spent a lot of the time being a student and so wouldn't have accumulated too much toward the national pension. I've worked ever since being here in oz, apart from when going through breast cancer and if we removed our Super, once again the exchange rate would be a disadvantage and leave us with less. What I really can't seem to find is some definitive information about the UK pension for us. A friend of ours said that you need to have worked for 30 years there before you can get the pension in the UK, is this the case ? We looked at buying to let whilst still in OZ, so that we had something to go to there, having saved some money up here for a year or so, but every mortgage lender in the UK want a lot of UK pounds in an account, before lending to you and we don't have as much as they want, which is between 30-50 thousand UK pounds. So unfortunately, had to give that idea the flick. Would love some information, if anyone can assist it would be much appreciated, Belinda
  13. Hi, I imagine a lot of people still have their UK house and rent it out while in Oz, so I hope someone can give me a bit of advice. My house in the UK made a loss over the first year, so no profit to pay tax on in the UK or Oz, good so far. Last year I did make a profit, but not enough to offset the previous loss, so no UK tax liability again... However, can anyone advise... For my Aussie tax return, do I need to declare the profit I made this year - even though I have not made an overall profit from that 'business' or is it my tax liability from the UK that I need to declare? I think at current rates it will be a couple of years before the loss is exhausted so this is something I will need to deal with for a while... If anyone can give me some clear advice that would be great, else can anyone recommend a tax advisor in Melbourne (City or eastern burbs prefferably) who has helped them with this, that would be next best. I have a BN136 Permanent Resident visa and I'm resident for tax purposes. Thanks for reading my post. Neil
  14. Most of the text I have read with respect to UK pensions relates to either transferring the fund to Australia or taking money out as retirement income, but that's not my question... When I was in the UK I set up a SIPP. Now I have left the UK and I was in Australia for the whole 2011-12 tax year. I haven't touched my SIPP in any way (no transfers, no money in or out). It is still there in the UK and it earned some dividends; these were paid straight into the SIPP and have stayed there (to be withdrawn in the distant future). My question is, do I have to declare these dividends to the ATO on my Australian personal tax return? I think the answer is No, but I really hope someone can give me a definitive answer (or point me to someone who can give me one). Thanks v. much in advance.
  15. Hi all, I'm sure others will have been in the same position of moving to Oz and keeping hold of their home in the UK to rent out, so hopefully somebody will be able to answer these questions: 1) As a resident for tax purposes, do I need to pay tax on any rental income from UK property? If so, and I'm not making any money (i.e. income = same as interest payment), then I assume I don't pay income tax on that amount? What if the income is used to make payments on a mortgage on that property and there's nothing left, so nothing to transfer to Oz? 2) What about UK tax? On the form to declare you've left the UK you need to state what rental income you're getting - but there's no way to state what interest payments that income must cover. How can I make sure I don't get double taxed on this money? 3) If I bought another property in the UK but was making a loss on paper (negative gearing) would I be able to reduce my Australian tax liability since I'm a resident for tax purposes?? Thanks in advance!
  16. aduffield76

    Bills, bills, bills

    Hi all, Please can someone help me regarding some questions on renting and rates. When you are renting a house, what is the equivalent to British "Council Tax"? we see many posts mentioning "rates" aswell as "water", "electric" etc If someone is currently renting and can give me a helping hand regarding what to expect to pay, I would appreciate it. we are moving to Melbourne in January and are trying to be as prepared as possible. Thanks in advance guys Andy
  17. Hi all, I'd like to to find out at what point I technically become a permanent resident. The reason is that I need to transfer UK pensions over to a QROPS approved superannuation fund and there is a 6 month period from when you become a permanent resident to transfer pension funds over without being taxed I currently live and pay tax in the UK. I was granted a permanent residency visa p640 sub class 100 in Dec 2009. I then had 12 month period to activate visa by visiting Australia within 12 months of it being granted, which I did in Dec 2010, by going there for a 2 week holiday. Anyhow we are now in the process of moving over for good and plan to arrive in Nov this year, I'll also be contacting the UK tax office to let them no that I'll no longer be a UK tax paying resident. So my question is am I already deemed to be a permanent resident from the time I activated my visa when I visited in Dec 2010 or will it be when I arrive this November? I hope the above made sense. Regards Mark
  18. Can anyone recommend a good accountant in the Mornington area? This is our first year to do the tax thing and I have 2 kids and lots of receipts!!:biggrin: Cheers x
  19. Paula and Jay

    Tax Refund

    Hi all, i wonder if anyone can help? I've heard off a few people that after your first year here, once you lodge a tax return that you're usually entitled to a refund? Is this correct? thanks in advance, Jay and Paula
  20. I have been working for the same labour hire company for more than 6months and also been on the same site /company... Ive only got till september left now till i return to the Uk . Does anyone think this will affect my tax or getting super back ?
  21. After being in Australia for three months on a PR visa, I am finally starting work tomorrow :-) I am trying to plan my personal finances and wondered whether I pay tax on my full salary (80k), or the cash amount (ie after Super is deducted, 73.5k)? My new employer has a default superannuation scheme, but I wondered whether there are others might suit me better. My main priority would be the possibility to transfer it to the UK one day as I am probably only going to be here for about a year. Also, I registered for medicare as soon as I arrived but only just received the card. It also had a leaflet with details about registering for private hospital cover in the first 12 months of being here. The whole thing has left me pretty confused. I have private cover in the UK and it would be something that I would consider here depending on cost, but do we not get any special allowances for being UK citizens since all my Aussie friends in London enjoyed the benefits of the NHS!? Any help will be greatly appreciated!
  22. Hi everyone, I have recently been granted Temporary Permanent Residency after applying for a spouse visa. I am now wondering if anyone has any information on how to inform the ATO of this....so that I don't have to pay the high tax rate that non-residents do (approx 28%) on my wages. Is it automatic? Thanks in advance for any information
  23. Hi, i wonder if anyone can advise me on the situation that has arisen. I will be arriving in Perth in December on my de-facto visa to start my new life in the sunshine, my current employer has offered me the chance to stay employed and work from Perth for them on offshore projects in Australian waters. The question is: when i receive my wage should i be paying tax on it in the UK or will i have to pay tax in Australia? Anyone in the same position or has knowledge of the tax system advice would be much appreciated. Thanks
  24. Does anyone know of a good tax accountant in Brisbane who knows both UK and Aussie tax? Thanks so much!
  25. JR88

    tax rates on 457

    Hi, I'm moving over on the 457 visa, and wondering what the tax I have to pay per annum is on my wages, I come under the $0-$80,000 bracket. If anyone can help I'd be grateful thanks