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MARYROSE02

Living in Surfers Paradise is like going on holiday and never having to leave!!?

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18 hours ago, ramot said:

If you have anything in UK in the way of assets, then the tax situation is far from simple. The best advice is to speak to a tax consultant who really understands both the UK and Australian system. Many people recommend Alan  Collet. We have just spent an hour with ours, as this is the first time we will be taxed here, and there are many grey areas. Never assume anything!!! 

It is interesting. Based on what I have read here,  it seems the UK is quite anal with its tax system, much like the US is. 

In Canada,  I own property and it does not affect any of my taxes and assets here in Australia. I am never taxed on the same asset by both countries. It's relatively straightforward between the two countries and I've had next to no issues,  and the few that did come up were very minor in nature.

Edited by Canada2Australia

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1 hour ago, Canada2Australia said:

It is interesting. Based on what I have read here,  it seems the UK is quite anal with its tax system, much like the US is. 

In Canada,  I own property and it does not affect any of my taxes and assets here in Australia. I am never taxed on the same asset by both countries. It's relatively straightforward between the two countries and I've had next to no issues,  and the few that did come up were very minor in nature.

I’ve got to be careful what I say, because I might unintentionally get things wrong, so this is a disclaimer. We will only be taxed once on our UK property rentals,  it’s more I think complicated when selling assets? All our income comes from UK, so as after nearly 18 years we finally have PR and citizenship, this is the first year we will be paying tax in Australia, we need to make sure we get it right. There is talk in UK that CG’s are going to be taxed higher due to the high cost of covid to the country? 

I’d best shut up now incase I am in a muddle and anyone thinks I am giving advice.

Edited by ramot

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3 hours ago, Canada2Australia said:

In Canada,  I own property and it does not affect any of my taxes and assets here in Australia.

Are you sure?  If you are a permanent resident in Australia, you are liable to pay tax on all income received anywhere in the world.   I am not aware of any exceptions.  That means you must declare the income from your Canadian property on your Australian tax return. If you don't, you are breaking the law and liable for a large fine when it's discovered.

If there is a double taxation agreement in place, then you will also declare the Canadian tax already paid, and the Australian taxman will reduce your Australian tax liability by that amount.  So in that sense, you don't get charged twice - but it's not as simple as  "I paid tax in Canada so I don't have to pay tax in Australia".   T

Edited by Marisawright
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Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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On 13/11/2020 at 00:20, FirstWorldProblems said:

Say what?!

I didn't know this.   Could you point me towards some reading material pls.  my google search skills are falling short.

I'm not sure about this. I declare my UK income to HMRC and to the ATO. I just submitted my income and outgoings for my UK home to my tax agent this week. Most of my tax is to the ATO though I do pay some to HMRC.

But I transfer money from my UK bank account to my Aussie bank account on a regular basis - this money being the net rent from my UK home which is paid into my UK bank account.

My UK pensions, on the other hand, are paid directly into my Aussie bank account but of course, whether paid into my UK bank account or direct to Australia, it is all declared as income on my tax returns.

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1 hour ago, Marisawright said:

Are you sure?  If you are a permanent resident in Australia, you are liable to pay tax on all income received anywhere in the world.   I am not aware of any exceptions.  That means you must declare the income from your Canadian property on your Australian tax return. If you don't, you are breaking the law and liable for a large fine when it's discovered.

If there is a double taxation agreement in place, then you will also declare the Canadian tax already paid, and the Australian taxman will reduce your Australian tax liability by that amount.  So in that sense, you don't get charged twice - but it's not as simple as  "I paid tax in Canada so I don't have to pay tax in Australia".   T

I was talking about this in another post I just submitted, though not in response to this post. I own a home in the UK which is rented out and I have two UK pensions. I declare all that income to HMRC (but not my Australian income as I don't live in the UK).

I declare ALL my income to the ATO, both from the UK and Australia. I just sent my tax agent my statement regarding my UK home rental.

What I was talking about in the other post was about getting some UK income paid in to my UK bank account and I transfer it when I want it, and some of it being paid directly into my Australian bank account. 

***I just had a thought as I'm writing this. Have I told my tax agent my UK pension income??!! I am sure I usually do that but just had a horrible thought that I may  have omitted that.

As it happens he is in the process of submitting my ATO return for 2019/20 but there is a hold up because the ATO has blocked my access to My Gov. (I'm in in contact with the ATO to sort that out) So, I have time to check if he has my UK pension income.

So, good that I saw your post Marisa as it reminded me to check my ATO return details. I know why my access to My Gov is blocked but I don't want to go into detail here, it's nothing illegal!)

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2 hours ago, Marisawright said:

Are you sure?  If you are a permanent resident in Australia, you are liable to pay tax on all income received anywhere in the world.   I am not aware of any exceptions.  That means you must declare the income from your Canadian property on your Australian tax return. If you don't, you are breaking the law and liable for a large fine when it's discovered.

If there is a double taxation agreement in place, then you will also declare the Canadian tax already paid, and the Australian taxman will reduce your Australian tax liability by that amount.  So in that sense, you don't get charged twice - but it's not as simple as  "I paid tax in Canada so I don't have to pay tax in Australia".   T

I declare all of my income in both Canada and Australia chartered accountants. I am required to by law.  

Edited by Canada2Australia
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If you moved back to the UK and lived in the property you own over there for a year, and then sold it while you were a UK resident, wouldn't that exempt you from CGT?

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On 12/11/2020 at 22:20, FirstWorldProblems said:

Say what?!

I didn't know this.   Could you point me towards some reading material pls.  my google search skills are falling short.

I only know that me and the wife got a big tax bill last year as she took a lump sum from her NHS pension and I took one from a Ferranti pension scheme I had. Just seen as an income and taxed accordingly. The monthly payments add up too. The tax office put us on a PAYG plan and sent us a bill. I retired last December, gave them a ring and they took me off it.

We both got a rebate this year, even my wife paid too much due to the PAYG so they adjusted it.

Now you have to have a MyGov account to submit your tax return they get to see your financial dealings and it gets harder and harder to get away with anything.

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17 hours ago, Paul1Perth said:

Now you have to have a MyGov account to submit your tax return they get to see your financial dealings and it gets harder and harder to get away with anything.

The UK government has become a right bunch of snoopers in recent years. If you phone up any of their helplines for advice they log your phone number, and if you hide it they ask for your contact details. I used to '141' and then tell them I was calling from a friend's phone so I didn't know the number. Now they've introduced this 'voice is my password' system so they know it's you, wherever you're calling from - there's no hiding! 😮 

Edited by Wanderer Returns

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15 minutes ago, Wanderer Returns said:

The UK government has become a right bunch of snoopers in recent years. If you phone up any of their helplines for advice they log your phone number, and if you hide it they ask for your contact details. I used to '141' and then tell them I was calling from a friend's phone so I didn't know the number. Now they've introduced this 'voice is my password' system so they know it's you, wherever you're calling from - there's no hiding! 😮 

Yep, much the same here.

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3 hours ago, Paul1Perth said:

Yep, much the same here.

They tend to believe what you tell them here - not that I'm suggesting for a moment you should hide anything, of course 😉

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12 hours ago, Wanderer Returns said:

The UK government has become a right bunch of snoopers in recent years. If you phone up any of their helplines for advice they log your phone number, and if you hide it they ask for your contact details. I used to '141' and then tell them I was calling from a friend's phone so I didn't know the number. Now they've introduced this 'voice is my password' system so they know it's you, wherever you're calling from - there's no hiding! 😮 

The ATO has blocked my access despite verifying my id by my voice "When I am in Australia my voice identifies me?" Actually, today, I decided to contact my federal MP to complain, the first time I've done this in Australia.  At the start of the year I had access to My Gov ATO pages but they blocked my access. The other sites within My Gov are all OK. My Tax Agent can't get into my accounts either to process my ITR. I just feel they are giving me the run around, treating me like I'm a "suspect!" It's been so difficult to contact them, waiting over an hour, call backs which do not happen, no direct number to call. We shall see.

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5 hours ago, MARYROSE02 said:

 It's been so difficult to contact them, waiting over an hour, call backs which do not happen, no direct number to call. 

Is there an ATO on the Gold Coast which you could visit in person?   Or, failing that, go into Brisbane?

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I politely declined to enable the voice recognition on the ATO, i’m a bit funny about systems like that (probably because i’m in IT haha).

First tax returns coming up next yesr, think i will need some help with the first one, if Australia and UK tax years started on the same date it would be a lot easier!

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1 hour ago, mt9754 said:

I politely declined to enable the voice recognition on the ATO, i’m a bit funny about systems like that (probably because i’m in IT haha).

Good move, although at some point it's likely to become compulsory I imagine.

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9 hours ago, MARYROSE02 said:

The ATO has blocked my access despite verifying my id by my voice "When I am in Australia my voice identifies me?" Actually, today, I decided to contact my federal MP to complain, the first time I've done this in Australia.  At the start of the year I had access to My Gov ATO pages but they blocked my access. The other sites within My Gov are all OK. My Tax Agent can't get into my accounts either to process my ITR. I just feel they are giving me the run around, treating me like I'm a "suspect!" It's been so difficult to contact them, waiting over an hour, call backs which do not happen, no direct number to call. We shall see.

It's annoying when this kind of thing happens, although I can't see how contacting your MP will help you. Maybe there's a logical reason why you can't access the ATO system - like they think you've retired, so you no longer submit a tax return? Just a guess.

Much as though I have an aversion to anything remotely big brother, I find the myGov portal pretty handy, and a lot more useful than the UK's Government Gateway.

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5 hours ago, Skani said:

Is there an ATO on the Gold Coast which you could visit in person?   Or, failing that, go into Brisbane?

Just thought to add:  didn't you work in the ATO in Parramatta?  Surely you'd have a contact there who could point you in the right direction for a solution?

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13 hours ago, Skani said:

Just thought to add:  didn't you work in the ATO in Parramatta?  Surely you'd have a contact there who could point you in the right direction for a solution

No, I cannot do that.

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17 hours ago, mt9754 said:

I politely declined to enable the voice recognition on the ATO, i’m a bit funny about systems like that (probably because i’m in IT haha).

First tax returns coming up next yesr, think i will need some help with the first one, if Australia and UK tax years started on the same date it would be a lot easier!

Well, I would not mind using it if they accepted it as 100 per cent me but they are still asking me to reel of my driver's licence details and stuff like that. It is entirely possible that my TFN has been "compromised" something that happened once before, and I had to get a new TFN. Covid has stuffed so many things up with some employees working from home and perhaps reduced staff in other areas, hence delays. But a guy rang me on Monday morning. I rang back on Monday arvo, hung on for over an hour only to find that the person I spoke to could not handle my query, and someone else was to ring me back within 24 hours, and now it is 48 hours and counting.

If they do not contact me I shall tell my TA - tax agent - to forget about lodging my return until they do contact me. In the meantime I have contacted my MP and they have sent me a form to fill in authorising her to contact the ATO. Funny but we are so used to criticising our MPs but they do represent us.

It can be a pain with the two different tax years but not insurmountable. I just went through my Aussie bank statement looking for my two UK pension payments from 1/7/19 to 30/6/20. For my UK tax return I guess I will get a statement from them both for the relevant UK tax years.

Get yourself an Aussie tax agent or accountant. Their fee is tax deductable and you are not subject to the same cut off dates as if you put it in yourself. If you are in Sydney I know one, my own. Actually, it does not matter that much which state you are in. I'm in Qld at the moment but still using the same TA. 

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I went to Blundall I think it is today, Ashmore Road, for a appointment with a gastro specialist - anyone want to talk colonoscopies!? I may need one, maybe not, this being screening rather than a problem. I had the last one three years ago and he's going to get details from my Sydney surgeon. I suspect every three years might be too frequent but I'm not sure.

Anyway, my brother dropped me off and I got a bus back, not to Surfers but to Pacific Fair shopping mall at Broadbeach. I did not know where it was going actually, had got a coffee then saw someone at the bus stop, actually waiting for a lift from her Dad (see, you can strike up conversations anywhere, even with Aussies). I had looked at the bus stop and saw a bus was due in 5 minutes and assumed she was waiting for the bus.

Interesting contrast with Surfers Paradise once you out into the burbs - mixture of residential and "trade" and the 3 lane  each way highway reminded me of Pittwater Road, Narrabeen, with its grass verge in the middle. Interesting on the bus too seeing streets of homes rather than high rises apartments, nice homes too BUT you need a car. That bus I got was once an hour. Some bus services are much better of course. Surfers Paradise is like a CBD made entirely of apartment blocks with very few office buildings.

Pacific Fair is nice too, not that i am a fan of shopping malls,, huge of course but with the river on one side and next to the tram stop. I got the tram back to Cavill Ave. I noticed that there is a bus to Coolangatta (Gold Coast) airport every 15 minutes from Broadbeach 7 days till 11pm I think.

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