Ken Posted March 20, 2021 Share Posted March 20, 2021 9 minutes ago, martl_2001 said: What level of stuff did you bring? Are we talking sofa, beds, wardrobes inc smaller stuff, or just mostly boxed things? Interested as I can never fathom what size is required. The contents of a 3-bed semi should easily fit into a 20ft container. 20ft might not sound like much, but it's only the length. Usable capacity is 32.6 cubic metres or 1,150 cubic ft it you want to keep it old school. 2 Quote Link to comment Share on other sites More sharing options...
Ausimi Posted March 20, 2021 Share Posted March 20, 2021 47 minutes ago, Ken said: For Australian Tax Purposes your Capital Gain on an asset for an immigrant will normally be the difference between its value when you took up residency in Australia (as a Permanent Resident) and its value when you sold it. If however you lived in the property before moving to OZ you can claim the private residence exemption for up to six years after you ceased to live there. Up to because you can only have one private residence at a time, If you've bought a new property to live in it's normally best to treat that as your private residence. Your mortgage isn't part of the equation as to whether or not you've made a profit on the sale. that’s not too bad then... thanks really appreciate the info! 1 Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted March 21, 2021 Author Share Posted March 21, 2021 17 hours ago, martl_2001 said: What level of stuff did you bring? Are we talking sofa, beds, wardrobes inc smaller stuff, or just mostly boxed things? Interested as I can never fathom what size is required. We got everything including the kitchen sink in our 20-footer with room to spare, but we don't have kids. The shipping agent will visit and quote you for free - they have a program/app that works out how much space you'll need. We got quotes for PSS and Anglo-Pacific, and we went with PSS in the end. Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted March 21, 2021 Author Share Posted March 21, 2021 20 hours ago, Marisawright said: Why do you say that? The rental from the UK property is treated exactly the same as rental from an Australian property would be. So how much tax you pay will depend on how much you're earning and how you handle your tax affairs. As for capital gains, your primary residence is tax free for six years, so there will be no Australian capital gains to pay if they sell it before then. Even if they hang onto it, you don't pay capital gains if you don't make a profit! I was assuming that if they sold their UK property then they would choose to buy a property here, and not rent. It doesn't make any sense unless you were sure that one day you were definitely going to return to the UK, and you're not really committing to your new life down under either. If you lived here for a number of years, returned to the UK and then sold that property, it could be liable for UK CGT because it would've have been an asset for the time you were living in Australia. Quote Link to comment Share on other sites More sharing options...
Ken Posted March 21, 2021 Share Posted March 21, 2021 6 minutes ago, Wanderer Returns said: I was assuming that if they sold their UK property then they would choose to buy a property here, and not rent. It doesn't make any sense unless you were sure that one day you were definitely going to return to the UK, and you're not really committing to your new life down under either. If you lived here for a number of years, returned to the UK and then sold that property, it could be liable for UK CGT because it would've have been an asset for the time you were living in Australia. If you lived her for a few years and then sold the property without returning to the UK it will still be liable for UK CGT. Non-residents are liable for CGT on residential property in the UK. Note that it's only gains made after you left the country that count (or after 6/4/2015 when the law changed if you left the UK before that). You are also required to report the sale within 30 days even if no CGT is payable. 1 Quote Link to comment Share on other sites More sharing options...
ramot Posted March 21, 2021 Share Posted March 21, 2021 47 minutes ago, Ken said: If you lived her for a few years and then sold the property without returning to the UK it will still be liable for UK CGT. Non-residents are liable for CGT on residential property in the UK. Note that it's only gains made after you left the country that count (or after 6/4/2015 when the law changed if you left the UK before that). You are also required to report the sale within 30 days even if no CGT is payable. We had our properties valued by the 6/4/15 and am I right that as properties are in joint names, the CGT is split between us? Quote Link to comment Share on other sites More sharing options...
Ken Posted March 21, 2021 Share Posted March 21, 2021 10 minutes ago, ramot said: We had our properties valued by the 6/4/15 and am I right that as properties are in joint names, the CGT is split between us? Yes, that's right. 1 Quote Link to comment Share on other sites More sharing options...
ramot Posted March 21, 2021 Share Posted March 21, 2021 10 minutes ago, Ken said: Yes, that's right. Not too much to worry about then, unless your house is worth millions!! Quote Link to comment Share on other sites More sharing options...
martl_2001 Posted March 21, 2021 Share Posted March 21, 2021 7 hours ago, Wanderer Returns said: We got everything including the kitchen sink in our 20-footer with room to spare, but we don't have kids. The shipping agent will visit and quote you for free - they have a program/app that works out how much space you'll need. We got quotes for PSS and Anglo-Pacific, and we went with PSS in the end. Sounds like that would do us then although we'd probably leave the kitchen sink We do have a little'un but he doesn't have much stuff. 1 Quote Link to comment Share on other sites More sharing options...
Jon the Hat Posted April 17, 2021 Share Posted April 17, 2021 So it turns out we have nearly 1700 cu ft of stuff, so 40ft container it is! 1 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted April 17, 2021 Share Posted April 17, 2021 15 minutes ago, Jon the Hat said: So it turns out we have nearly 1700 cu ft of stuff, so 40ft container it is! Holy cow. Quote Link to comment Share on other sites More sharing options...
Jon the Hat Posted April 17, 2021 Share Posted April 17, 2021 2 minutes ago, Marisawright said: Holy cow. We do have a five bedroom house and a trailer full of camping gear, and a drum kit, 4 guitars, electric piano... Quote Link to comment Share on other sites More sharing options...
Dusty Plains Posted April 17, 2021 Share Posted April 17, 2021 (edited) 1 hour ago, Jon the Hat said: We do have a five bedroom house and a trailer full of camping gear, and a drum kit, 4 guitars, electric piano... Only 1 drum kit? I have 4 drum kits and I now realise that I have a problem as a drum hoarder and so the time has come to hand them down to the grandchildren, much to the indignation of their parents and, that makes me chuckle. I'll keep one drum kit just to amuse myself. Playing drums whether at home, or in a rock band is absolutely therapeutic. I have a Premier drum kit, made in England, (see Keith Moon) which my parents bought for me in 1971 and I still play that kit and it is still in showroom condition. Its been "gigged" probably hundreds and hundreds of times since '71. These days however I have a menagerie of musical instruments, sound equipment galore all of which is about to go onto Gumtree and ebay. At the moment I play Baritone Saxophone in a 7-piece Ska band. That will do an older bloke like me. Life is good. Edited April 17, 2021 by Dusty Plains 2 Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted April 17, 2021 Author Share Posted April 17, 2021 11 minutes ago, Dusty Plains said: Only 1 drum kit? I have 4 drum kits and I now realise that I have a problem as a drum hoarder and so the time has come to hand them down to the grandchildren, much to the indignation of their parents and, that makes me chuckle. I'll keep one drum kit just to amuse myself. Playing drums whether at home, or in a rock band is absolutely therapeutic. I have a Premier drum kit, made in England, (see Keith Moon) which my parents bought for me in 1971 and I still play that kit and it is still in showroom condition. Its been "gigged" probably hundreds and hundreds of times since '71. These days however I have a menagerie of musical instruments, sound equipment galore all of which is about to go onto Gumtree and ebay. At the moment I play Baritone Saxophone in a 7-piece Ska band. Life is good. I would love to be able to play a musical instrument, but everything I've had a go at I've been rubbish. I can at least make a decent sound down a digeridoo though! 1 Quote Link to comment Share on other sites More sharing options...
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