cheel Posted June 10, 2009 Share Posted June 10, 2009 Hi Folks, My current work in UK have been asking if i would like to continue working for them when i move to OZ. Obviously this will help big time as will continue to have cash straight away so pressure of job hunting is off. I'm just wonderring if anyone knows how the tax is handled in this case? Would you suggest being paid into OZ account or continued in to UK account, doe sit matter? Any ways any help much appreciated. Cheers, Cheel Link to comment Share on other sites More sharing options...
Guest Karin_and_Mervyn Posted June 16, 2009 Share Posted June 16, 2009 Hi Cheel, I've been asking this same question for months now, but don't seem to be able to get an answer. I need to let my UK customers know what I'm going to do very soon, but even after months of question asking, researching, trawling the internet, contacting experts, I still do not have an answer. I'm going to keep an eye on your thread, see if anyone can come up with an answer at all.... Cheers, Karin Link to comment Share on other sites More sharing options...
Guest Karin_and_Mervyn Posted June 16, 2009 Share Posted June 16, 2009 Have just trawled the internet another two hours, again, without success. Better get back to work, I hope someone will have an answer sometime soon.... Link to comment Share on other sites More sharing options...
Mongrel Posted June 16, 2009 Share Posted June 16, 2009 Hi Folks, My current work in UK have been asking if i would like to continue working for them when i move to OZ. Obviously this will help big time as will continue to have cash straight away so pressure of job hunting is off. I'm just wonderring if anyone knows how the tax is handled in this case? Would you suggest being paid into OZ account or continued in to UK account, doe sit matter? Any ways any help much appreciated. Cheers, Cheel Not up on the tac implications but access to your money is another thing you are tied by the exchange rate and charges , you would get hammered by mr tax man as it is foreign income . How woud you pay living expenses , one cockup with the banks and you would be stuck Link to comment Share on other sites More sharing options...
Guest siamsusie Posted June 16, 2009 Share Posted June 16, 2009 Havent got a clue about the tax implications either.... I dont know whether this site is very old Contracting In Australia - Tax Issues & Implications, IRED.... she/he has written about tax implications in Australia and it looks as though they are based in Sandy, Beds, there is also an e mail address... and hopefully someone from PIO can help you as well, very best wishes ss PS.. just seen they have their own web page as well, maybe they will be helpful to you if you gave them a buzz http://www.towertax.com/ Link to comment Share on other sites More sharing options...
Guest Karin_and_Mervyn Posted June 16, 2009 Share Posted June 16, 2009 Siamsusie, Thanks for the websites. I've had a look, but unfortunately, still haven't found an answer to my question. I am not so much worried about the tax implications, I know that I will pay full Australian tax, seeing as I will be a permanent resident in Australia. It's just that I'm trying to find out which would be the more cost efficient, having all my customers pay into an Australian bank account, therefore every payment will be minus a charge for international payment, and possibly a bad exchange rate, which I'm sure I will end up paying, so less net payment, or perhaps leaving things as they are, and transfer all monies paid into the UK account to Oz once a month, or perhaps there are other, more cost efficient options... Sorry, Cheel, for hijacking your thread, I would just soooo much like some answers..... Cheers, Karin Link to comment Share on other sites More sharing options...
Guest siamsusie Posted June 16, 2009 Share Posted June 16, 2009 No worries Karin there has to be a money person around to help you here on PIO Link to comment Share on other sites More sharing options...
cheel Posted June 16, 2009 Author Share Posted June 16, 2009 No problems Karin. More info th ebetter it all helps me out as well. I will be sure to ge tin touch if i find anything of interest. Cheers, Cheel Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted June 16, 2009 Share Posted June 16, 2009 Hi Cheel I have a client that works here and is employed by a UK company, they have negiotated a fixed exchange rate to be used when paid by the employer, so for example the employer pays 2.48 GBP to the Dollar. Obviously exchange rates were good at the time of negotiations but you could try for something like this, maybe a long term average. This way your income is fixed and will not fluctuate, therefore they take the exchange risk. You will definitely need specialist tax advice and from somebody that has knowledge of both the UK and Aussie system. I imagine setting it up the right way could mean big tax savings. You might want to try Alan Collett who is a member on here, he would probably fit the bill. Andy Link to comment Share on other sites More sharing options...
Alan Collett Posted June 17, 2009 Share Posted June 17, 2009 Karin, I am sending you an email, which I hope will be of interest. Anyone else who is interested in a possible solution for payments from UK clients for services provided once you are in Australia should feel able to send me an email (click on my name to the left of this post). Best regards. Link to comment Share on other sites More sharing options...
Guest mattbarnes Posted August 24, 2009 Share Posted August 24, 2009 Hi I thought I would post this here as to it's relevance to the above thread. I will be continuing working permanently for a small UK web design company when i return to Australia I am an Australian Citizen. - Is it better to go freelance (sole trader?) and send my monthly invoices to my Employer? Will this benefit me more? Or is there a way to just keep on getting paid from the employer directly into my UK bank account like I do at the moment? - How would tax on foreign income work? Any help would be greatly appreciated as I have no idea of how these things work. Thanks Link to comment Share on other sites More sharing options...
Sids Dad Posted August 26, 2009 Share Posted August 26, 2009 Hi, I too will be working for a UK company but I'm not sure what you mean about Tax implications? I, when entering Oz permanently will have to get an Australian tax number. I will then give the company the Oz banking details that my wages will be paid into. I will of course have to pay Australian tax as I would if I worked for any Oz company? I think it's wishful thinking that you would get your pay banked into your UK account and also not very economic with the cost of drawing it out through an ATM etc when in Oz. Maybe I'm missing your point as it is a bit early for me (Eyes wide shut!!). Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.