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Found 29 results

  1. 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
  2. Hi all Can anyone help with advice regarding the following scenario? Subclass 457 Visa, Overseas company sponsoring an overseas employee. Basically this means a UK Company is sending one of their employees over to Australia to work. Visa is approved. Employee is residing in Australia Uk Company pays salary to employee. Do they deduct tax first and if so, do they deduct UK tax or Aussie tax? If Aussie tax, how do they do this? :confused: Have spoken to Australian Tax Office but no answer from them yet. Many thanks
  3. Hi guys, We received our visa grant VE 176 last 31st March 2011 and we are WA sponsored. However, my wife & I plans to land in Victoria instead of WA. My questions are, what would be the implications & problems that we might encounter if we proceed to settle & live in Victoria? The current problem that we might face & future trouble like gaining citizenship? Please help us before we finalise our plans and any advice is highly appreciated! We are planning to fly to Melbourne end of August this year. Thank you in advance!~ Tazmania:unsure:
  4. Lets assume that you are granted a visa subclass 121 which requires you to enter Australia by a certain date. What are the implications of : 1) Entering before that date, but not beginning employment with the company who sponsored you until a later date 2) Entering before that date, joining the company and returning to your home country for a period of time whilst working for that company 3) Entering before that date, joining the company, leaving the company and returning to your home country for a period of time. And later returning ? 4) Entering before that date, but not joining the company that sponsored you for a number of years 5) Not entering Australia by the date specified - would this impact on any future applications ? Thanks in advance for your response !
  5. Im planning on flying out to australia later this year.. but its just occured to me that a criminal record i was stupid enough to get 20 years ago might actually scupper my plans.. it wasnt anything major i was charged with aiding and abetting a burglary (how embarrassing) i recieved a £500 fine... could this prevent me from getting a visa.. i believe the one i want is called an ETA visa as i will only be staying 3 weeks.... im going out of my mind with worry.... can anybody advise me on this matter... i was told by a mate to phone the australian embassy to tell them, but im far too embarrassed to talk openly about it... sorry i didnt introduce myself... im clare and new to these forums...
  6. Hi I hope someone can help my overly active brain :confused:!! As some of you may be aware, I am currently 'sitting it out' in Australia waiting for my 835 Onshore Last Remaining Relative visa application to be processed. I have been here nearly a year and have been on the Bridging Visa A since February 2010. I am aware of the potentially lengthy wait (up to 6 years) however I am starting to wonder what could happen if my 'single, no kids' status was to change... If I met someone and entered a relationship, what would happen if this became 'de-facto' or if I was to fall pregnant? I would no longer be a last remaining relative and presumably no longer eligible for this visa. {{6 years is a long time for a girl hehe!!}} Also - I currently have 'no travel rights' to leave these shores... This isn't a huge problem at the moment, however can immigration really restrict my travel for so long and request for me to pay for the Bridging Visa B every time I wish to travel overseas or is there any way that I can get the restriction lifted whilst remaining on the Bridging Visa A {{again, 6 years is a long time!!!}} ?? I am about to start a new job whereby travel may be necessary and I would like to be able to partake in this rather than remotely manage the overseas teams... Anyway - if any of you can share any pearls of wisdom, I would be very grateful... Thanks Cx
  7. Hi All I am in the process of becoming sponsorsed after previously being on a working holiday visa and i was wondering what the tax implications would be? Many thanks Beth
  8. Hi there, Apologies if this has already been asked... I have hunted and can't seem to see a response. I was granted my 475 in Jan 2010 - I am planning to validate in Oct 2010 with the big move happening June 2011. My occupation is now not on the new SOL and I am wondering if this will have any implications when I go to apply for permanent residency? At the moment the only conditions are live in SA for 2 years and work full time for a year. If anyone has any knowledge that would be greatly appreciated...getting a bit stressed out now!! :no: Thanks, Sharon
  9. Hi All, I'm looking for some definitive advice on my ownership and tax position for UK-based ISAs. I've read a number of threads though I find the information a little conflicting. My questions are: 1. Will I have to declare and pay Oz tax on the capital gains of the ISA if I keep the ISA running and don't cash it in whilst resident in Oz on the 457? 2. Will I have to declare and pay Oz tax on the ISA if I apply for PR? (I'm guessing that I would have to pay tax on the capital gains during my stay in Oz...not the whole lot!) 3. Can I add to the UK ISA fund, (perhaps from money transferred to a UK bank account), having paid Oz tax on my salary, and pay no more tax if I cash in the ISA whilst in Oz or the UK? I don't even want to think about property at the moment!! :unsure: I'm finding this site to be a marvellous source of information...I just hope I can add to it over time. Thanks for any replies. Kindest rgards Errol.
  10. we are thinking of putting the money we make on our house into a 5 yr investment plan. due to the crap exchange rate we thought this would be a good way to make some extra money rather than just moving it to oz dollars. we have been told that if we were staying in the uk we wouldnt pay any tax on the payout at the end (about 30% profit). does anyone know what the implications would be if we are living in oz when it matures?
  11. Hi everyone, I have been living in Australia for coming up to 4 years now (come June). I got my permanent residency in April last year. My plan is to work overseas sometime this year, back in the UK offshore oil and gas sector, and to commute to and from Australia. I was wondering if anybody could outline any tax and citizenship implications and also lastly as I am an Aussie resident now if there are any new rules for people like myself wanting to work in the UK. thank you, Jayrigg
  13. Guest

    Tax Implications

    Hi Are there any accountants that have moved over to Oz that understand the tax implications of earning money in both UK & Oz ie from rental income, pensions etc that are able to offer any advice or direct us to a web site?:confused: Thanks Ann & Gary
  14. Hi, I sold my house ready to move to Oz but have a house I currently already rent out, which I plan to keep. Does anyone know what I need to do in terms of tax etc? Thanks, Heatherd
  15. Hi guys I have held a Defacto visa since Sept 2006, I received my Perm Res in Sept 2008. Unfortunately it's looking like we are going to seperate (are married but not going to apply for a divorce just yet) and live apart to begin seperate lives. How does this affect my eligibility to be here? Someone told me that if we seperate within 5yrs of being granted Perm Res I will be deported, does anyone know if this is the case? Thanks in advance! Lizzie :cute:
  16. Basically I have been an electrical/electronics engineer (in UK) for over 20 years including 8 years in the RAF (Avionics) and the remainder in industry such as print & more recently the oil/gas. I don't have a degree but do have the following qualifications; BT Diploma in Electrical/Electronic engineering BT Diploma in Electrical/Mechanical engineering C&G 236 pt 1&2, AM1 C&G Electronic Test skills C&G Pneumatics Along with several other C&G in management etc etc The job description for Electrician (Special Class) fits my job perfectly but I wondered what (if any) implications/restrictions there may be for actually getting a job in Oz?? What qualifications would I need to take to get work if I entered on a 175 visa as Electrician (Special Class)..... Thanks in advance....
  17. Hi I have a General Skilled Migration visa and have until July 2010 to move over to Australia. I want to delay that to Jan 2011. Have anybody experience of this? If so what is the process? Many thanks Pinky
  18. Hi Folks, We are recent permanent residents and have a property in the UK that is currently rented out and covering the mortgage. We have also recently bought a property in Canberra and are looking at consolidating the assets by selling the UK house. Does anybody know if we are liable for tax on the money we net from the UK property sale? Many thanks, Jenna & Steve
  19. Hubby and I are due to emigrate to Adelaide on 25th August on a 143 Contributory Parent Visa as permanent residents. We both draw Uk state pension and hubby draws two private pensions. Hubby pays UK tax on his pension, I don't as I do not draw more than my personal tax allowance. Do we have to register for tax on Australia? If so, how do we find out what our tax liability is?
  20. What is the situation with the visa/DIAC if you find out you are pregnant after your visa is granted? Do you have to apply for a visa for the new baby or can it just be added to the original? Anyone been through this? Our visa was granted Dec 08 but we are not likely to be emigrating until end of 2010. This would mean baby is born in UK then we move to Oz but what do you do about getting visa for new baby? Sorry if this is stupid question that has been answered before but I can't seem to find what I need using the search facility. Thanks
  21. Does anyone know if there are any tax implications of owning two homes? We have our UK home on the market (so we have no income from that, only expenditure there - mortgage which is covered by savings that we have left un the UK), but have been looking at buying a house here to live in. Basically we are looking for a renovation project, and if we see something we like, may go for it. But I wondered, if we did that, would we be stung for tax on the sale of our UK house?
  22. nickjenkinson

    Tax implications???

    Hi Guys, I'm in the process of applying for a 175 visa using visabureau with the other half. In fact it is her visa, i am defacto partner. ANyway, i was wondering if any of you guys were clued up on the tax situation. My scenario is as follows: In UK i run a cleaning company, which will continue to run in my absence. I'm curious to know if i will i be double taxed on the earnings i take from the company? I also have a few rental properties, which generates a small income, only because of the interest rate cuts... Will i be double taxed for that? I intend to work in Australia, or possibly set up on my own, i'm just worried about getting hammered on both sides for tax... Will seek clarification from my accountant, but as yet, i haven't tld him i'm off. Your feedback and knowledge will be greatly appreciated Nicholas
  23. If we don't sell our U.K place in time-we have decided to rent it out, and go to Aus anyway. What are the tax implications? I.E. renting the property out to family friends just to cover house running costs and small mortgage? We would probably charge them £500 a month. Similar properties are being rented for £600-£650 in the area, but we really do just want to cover costs, and know the house will be well looked after and kept in one peice!! Thanks
  24. Am considering leaving my UK pension to be paid in the UK then transferring it on an ad hoc basis. What are the tax implications of that in Oz. I realise that I'll pay UK tax etc. (and `suffer' the vagaries of the exchange rate) but I've also heard that UK/Oz have a reciprocal tax arrangement; is this correct? Is anyone else in a similar situation and can give BTDT advice/experience. VMT in anticipation.
  25. Hi, Like many others on here we are finding it difficult to sell our houses. We have 2 houses 2 sell as my OH has one from before we met. Instead of paying the mortage on his whilst waiting for it to sell, as we both have lived in mine now for a long time, we were thinking of renting it out instead but does anyone know what the tax implications woudl be when we get to Oz? Has anyone moved out there and done the same? Any help much apprieciated.