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Found 6 results

  1. Hi Please can some-one help I have a property in the UK I have been granted perm residents in OZ and will depart in January 2012 I am going to rent the flat in the UK I have filled out the UK non residents tax form so will get rent with no deductions I understand I need to complete a tax form at the end of the year as the UK will have first call on my rental income minus my personal allowance Since OZ collects on worldwide income I will get a tax credit from the UK and pay any extra tax owed in OZ So far so good I have a list of allowable expenses for UK rental income (10% depreciation for wear and tear, repairs, professional services and mortgage interest payments etc - on another matter I do not have a mortgage as I own the home outright and would be interested to know how I should make best use of the tax breaks e.g remortage or not etc) What I do not understand do I use the UK model for allowable expenses or do I need to use the OZ model. So I am getting around £13,000 a year in rental income before any expenses and before tax Do I use HMRC rules for allowable expenses on my UK rental income or the OZ tax rules I would be so grateful for help on this matter Also would welcome any professionals to approach me if they can offer a service to help me through this
  2. hi Does annyone know how to work out take home pay after all the deuctions and everything? im a nurse who will be earning basic $1900 a fortnight so what exactly will be deducted as im getting very confused!! i will hopefully benefiting from the hospital salary sacrificing sscheme of $500 a week for rent and car and loan so hopefully be paying tax on $ 400 a week, any advice would be very grateful of!! kate
  3. Late last week a High Court ruling has given Youth Allowance Recipients a potential tax windfall, allowing them to claim the cost of textbooks, stationery and administration fees as tax deductions. Previously the ATO had viewed the Youth Allowance as a reward for studying and not as income, but the High Court has ruled that youth allowance payments should be treaty as "ordinary income" and that the student's expenses were incurred in earning that income, and therefore are deducible expenses. This is a very important decision and could lead to 500,000 other youth allowance beneficiaries claiming similar deductions, potentially worth millions of dollars. Does this ruling affect you or your children at all? Cheers, Mark
  4. Hi, can anyone give me an idea of what we can expect to pay in tax when we get to Oz? Obviously over here we pay income tax, NI, VAT and a million other taxes, but I'm just thinking about tax that is deducted from salary really. And the compulsory pension %. Is healthcare deducted at source too? For the sake of easy maths, can anyone tell me what % I'd take home on AUS$ 100k ? Cheers, Nicky
  5. emmaj

    Deductions From Wages?

    In a previous post Tim posted this link - Income Tax Calculator - Yahoo!7 Money Matters Im trying to work out our take home pay, this works out 08/09 tax but are there any other deductions i need to take into account? Do we pay anything for medicare or anything like that? Many thanks Emma x
  6. Hi,Help please:unsure: What sort of deductions would you expect to pay in tax and Insurance say for argument sake if you earned in the region of $41000 or $800 a week,just supposing. Any help in this would be gratefully received.