The Brand New PIO Parents Visa thread

[8CPA]

12 hours ago, Suzyq said:

Really pleased there's no planned increase to the 2nd VACs!! 

Not sure if this is the right forum / thread but here goes! - we've decided I will go for the Visitor Visa 600 and hope this I get it for a full 12 month stay. My husband will remain on an eVisitor as he works offshore, currently in China on a ship build, and works 8 weeks about. Whilst we await further steps on our 143 journey, I hope to reapply for the 600 as and when needed. 

How do we go about buying a house in this situation? Has anyone done this? We have been told that there is such a thing as a "bare" trust which enables a trustworthy individual (son) to buy the house on our behalf, with the ability to "sign over" ownership of the house to ourselves when we have residency. Obviously, the purchase would be made with our finances!

Any comments or advice welcome! Thank you.

Hello. You would be allowed to purchase land and build a new house. While waiting for our 143 we bought a '2nd hand' house by setting up a loan to our daughter who bought the house on our behalf. In meant double stamp duty as it was deemed a 2nd home for my daughter and then another stamp duty when it was transferred to our name. This was done with lots of legal advice. also rates were higher while our daughter owned the house. Don't know if there is another way round.

[Alan Collett]

7 minutes ago, 8CPA said:

Hello. You would be allowed to purchase land and build a new house. While waiting for our 143 we bought a '2nd hand' house by setting up a loan to our daughter who bought the house on our behalf. In meant double stamp duty as it was deemed a 2nd home for my daughter and then another stamp duty when it was transferred to our name. This was done with lots of legal advice. also rates were higher while our daughter owned the house. Don't know if there is another way round.

Be very careful: a second property ownership attracts a capital gains tax charge upon disposal, including to another family member (this is a deemed disposal at the property's market value).

Plus Stamp Duty considerations, at least $5k payable to the FIRB, and (following the Federal Budget yesterday) no CGT exemption when a temporary visa holder buys a main residence in Australia.

Best regards.

[Catlady2014]

39 minutes ago, AJ_143 said:

Yes, in same situation as you, just slightly ahead. Now waiting for immi to contact me back for 2nd vac. Trying to find how much time it takes from here?
My grandson is 1 month old and my daughter is eagerly waiting for us   

Keep checking your Junk emails in case anything important goes in there instead of going to your Inbox.  What was the date of lodgement of your CPV application?  Current processing times are 33/34 months.  I've just passed the 31 month mark.  

Edited May 10, 2017 by Catlady2014

[Suzyq]

Thanks Alan and 8CPA. We will take legal advice. I think the additional cost we would incur is probably worth it when balanced against the cost of rental for a couple of years. Just want to settle and keep legal!

[elnak]

On 5/5/2017 at 4:28 PM, bry45 said:

So

Currently, we are in the 143 waiting line and only having applied on June 1st last year, we are in for a long wait. We've been to OZ on 4 separate occasions now for a total of about 7 months altogether, which in itself has cost a small fortune, but he, ho. We've been looking at every alternative to get to OZ sooner, not just because we don't want to wait another two years, probably three by the end of the process, but because we've now got an Ozzy granddaughter, soon to be six months old, so her mum and dad need us now, while she's young. And we want to be with them.

We honestly thought this new visa would be a viable option, but I can't get my head around why they will not allow us (or me at least because grandma will be babysitting) to work, surely this would be better as I would be contributing to the economy and there's no way I'm shelling out $20,000 on a visa that doesn't allow us to work, but allows them to kick us out after 10 years. Not sure what to do now, should we apply for a 600 and renew? should we apply for the new temp visa, but only ask for three years, in the hope that our 143 is granted within that time frame? 

I will happily accept any advice offered.

In my own humble opinion, just be patient and wait it out and be grateful that you are in  the queue already. I think things are going to get even worse,,, harder to get in.

[elnak]

16 hours ago, AJ_143 said:

Yes, in same situation as you, just slightly ahead. Now waiting for immi to contact me back for 2nd vac. Trying to find how much time it takes from here?
My grandson is 1 month old and my daughter is eagerly waiting for us   

You are almost there. Hang on !! and good luck. 

[elnak]

On 5/4/2017 at 1:19 PM, Catlady2014 said:

My buyers are pressing me to complete on 19th May!  That's impossible for me.  Eeeek. 

Oh come on! We all know youcan do this, Just do it!!

[AJ_143]

15 hours ago, Catlady2014 said:

Keep checking your Junk emails in case anything important goes in there instead of going to your Inbox.  What was the date of lodgement of your CPV application?  Current processing times are 33/34 months.  I've just passed the 31 month mark.  

I applied on 19th September, 2014, so it's almost 32 months now. Calculating by standard processing time it can take 1-2 months more I guess.

 

23 minutes ago, elnak said:

You are almost there. Hang on !! and good luck. 

Thank you

 

[elnak]

17 hours ago, Catlady2014 said:

Almost ready to exchange contracts, just need to agree a completion date.  If it all goes wrong, I have another buyer lined up and waiting to go ahead.  Seems to be a bit like buses - nothing for a while and then two come along at once. 

Murphy's law.............

[8CPA]

19 hours ago, Alan Collett said:

Be very careful: a second property ownership attracts a capital gains tax charge upon disposal, including to another family member (this is a deemed disposal at the property's market value).

Plus Stamp Duty considerations, at least $5k payable to the FIRB, and (following the Federal Budget yesterday) no CGT exemption when a temporary visa holder buys a main residence in Australia.

Best regards.

 

18 hours ago, Suzyq said:

Thanks Alan and 8CPA. We will take legal advice. I think the additional cost we would incur is probably worth it when balanced against the cost of rental for a couple of years. Just want to settle and keep legal!

You are right Alan. Fortunately our house had not increased in value but you have to get an estate agent to submit similar property sale prices. As we did this within the year we were lucky and did not have to pay capital gains. Double the solicitors fees though as well as 3 times stamp and there is always the outside risk of something happening medically to stop you getting the visa and then you are stuck with the house to sell. Glad we did it but we did take a big risk. For the first while we were here we invested the money from the sale of our UK house and with better interest rates here the interest paid for our rental. They don't make it easy do they?

[Suzyq]

I'll look into the interest rates on savings, I hadn't thought about that! Although we would like to find a house and settle really. Thanks for your advice!

[Catlady2014]

9 minutes ago, Suzyq said:

I'll look into the interest rates on savings, I hadn't thought about that! Although we would like to find a house and settle really. Thanks for your advice!

My daughter used interest on savings towards rent, for about 18 months, using that time to thoroughly investigate all the suburbs/streets in the area, before deciding on exact location and buying their current property.  Just something to think about, unless you already know the exact area you want and know which parts to avoid. 

[clarkesville1]

On 10/05/2017 at 7:49 AM, AJ_143 said:

Yes, in same situation as you, just slightly ahead. Now waiting for immi to contact me back for 2nd vac. Trying to find how much time it takes from here?
My grandson is 1 month old and my daughter is eagerly waiting for us   

What are the interest rates on savings in Oz......good?

 

[Sadge]

1 hour ago, clarkesville1 said:

What are the interest rates on savings in Oz......good?

 

https://www.finder.com.au/savings-accounts/best-savings-accounts

 

 

[nyorksgrannie]

25 minutes ago, Sadge said:

https://www.finder.com.au/savings-accounts/best-savings-accounts

 

 

Hi, I have a distant memory of someone saying don't move all your money until you have a permanent visa as it is harder to get the money out than it is to move it in, does anyone know if there is any truth in this other than currency rate changes?

[Catlady2014]

Contracts exchanged, house sale completes 22nd June.  Now all I need is a visa.  

[Kathss56]

2 minutes ago, Catlady2014 said:

Contracts exchanged, house sale completes 22nd June.  Now all I need is a visa.  

Glad you managed to change the date ! Not long now, frustration  nearly over 

[Sadge]

17 minutes ago, nyorksgrannie said:

Hi, I have a distant memory of someone saying don't move all your money until you have a permanent visa as it is harder to get the money out than it is to move it in, does anyone know if there is any truth in this other than currency rate changes?

Not sure whether you CANNOT get your money back in an emergency - it certainly wouldn't be easy. I had to attend the bank when I made my recent visit in order to validate my 143, with my Visa, passport etc., which is when I received my debit card for my current a/c and sorted out an isaver a/c (both with NAB), and now that I'm back here to sell my house I'm gradually transferring funds through Moneycorps, which is all very straight forward.

I haven't got my head round the tax implications of not yet being a non-resident, but until you are a resident for tax purposes I believe you pay a higher rate of tax on any interest earned.  

[Sadge]

Information for former visa holders/ taxpayers.

Just in case anybody is in a similar odd situation that I was, I thought I would offer the following information.

When I was in my 20s I was a "10 pound pom", lived in Australia for a while, had a job etc.

When I returned to the UK I wasn't aware that it might be possible to retain my right of residence by making regular trips - I think it was something like a visit every nine years or something.  This was never of any interest anyway as I never envisaged wanting to return.

Anyway.  Having worked in Australia I had a tax number but after nearly 50 years didn't have a record of it, but after a little bit of googling, found an application form for an ATN (Australian Tax Number), filled it in, including vague information of my entry/exit dates and within a week I received my original ATN from the tax office!

I subsequently realised that I might one day need physical evidence of my previous visa (details of which were long gone, together with my old passport with the visa actually stamped in it (those were the days!).  A telephone call to the National Archives in Canberra and a lovely chat to the most friendly and helpful person imaginable resulted in him emailing me a copy of my entry card, together with the original visa number and passport number.  My exit details will be available after July when they have finished inputting all the details into the computer system of 1968 records.  

Can you imagine getting such amazing, friendly, prompt responses from the Inland Revenue/DSS?

 

 

[Catlady2014]

3 minutes ago, Sadge said:

Information for former visa holders/ taxpayers.

Just in case anybody is in a similar odd situation that I was, I thought I would offer the following information.

When I was in my 20s I was a "10 pound pom", lived in Australia for a while, had a job etc.

When I returned to the UK I wasn't aware that it might be possible to retain my right of residence by making regular trips - I think it was something like a visit every nine years or something.  This was never of any interest anyway as I never envisaged wanting to return.

Anyway.  Having worked in Australia I had a tax number but after nearly 50 years didn't have a record of it, but after a little bit of googling, found an application form for an ATN (Australian Tax Number), filled it in, including vague information of my entry/exit dates and within a week I received my original ATN from the tax office!

I subsequently realised that I might one day need physical evidence of my previous visa (details of which were long gone, together with my old passport with the visa actually stamped in it (those were the days!).  A telephone call to the National Archives in Canberra and a lovely chat to the most friendly and helpful person imaginable resulted in him emailing me a copy of my entry card, together with the original visa number and passport number.  My exit details will be available after July when they have finished inputting all the details into the computer system of 1968 records.  

Can you imagine getting such amazing, friendly, prompt responses from the Inland Revenue/DSS?

 

 

Impressive!

[Alan Collett]

9 hours ago, Sadge said:

Not sure whether you CANNOT get your money back in an emergency - it certainly wouldn't be easy. I had to attend the bank when I made my recent visit in order to validate my 143, with my Visa, passport etc., which is when I received my debit card for my current a/c and sorted out an isaver a/c (both with NAB), and now that I'm back here to sell my house I'm gradually transferring funds through Moneycorps, which is all very straight forward.

I haven't got my head round the tax implications of not yet being a non-resident, but until you are a resident for tax purposes I believe you pay a higher rate of tax on any interest earned.  

Hi Sadge (and others).

If you are non Aus resident with a UK residential address tax is withheld from interest on a bank deposit in Australia at 10%.

If you are a resident and provide a personal Tax File Number no tax is withheld from bank interest; if you are a resident and don't provide a TFN tax will be withheld at the highest marginal rate of income tax.

If you have a TFN you should plan to lodge an annual Tax Return in Australia, or a Non Lodgment Advice.

Best regards.

[Sadge]

3 hours ago, Alan Collett said:

Hi Sadge (and others).

If you are non Aus resident with a UK residential address tax is withheld from interest on a bank deposit in Australia at 10%.

If you are a resident and provide a personal Tax File Number no tax is withheld from bank interest; if you are a resident and don't provide a TFN tax will be withheld at the highest marginal rate of income tax.

If you have a TFN you should plan to lodge an annual Tax Return in Australia, or a Non Lodgment Advice.

Best regards.

Thanks Alan. 

[Suzyq]

Hi Alan, you're a font of knowledge!

I've got another good query for you! My husband works offshore for a company largely but not exclusively in the oil industry.  He is currently working on a new ship build in China.  His current pattern is 8 weeks on and 8 weeks off.  We live in UK and the HMRC allow him to be taxed at the usual rate(s) but then due to the UK shipping tax laws he is allowed to claim all tax back annually providing he is out of the country for 50% of the year (I'm pretty sure that's how it works).

When we move to Australia he will continue to work on the same schedule and for the same company. Can he continue to be taxed in UK? Would you know how that works? Initially he will be using an e visitor Visa until our 143 is granted. I am hoping to stay using a SC600, renewing until our 143 materialises. I will not be working (obviously) as I will be taking on grandparent responsibilities to support our son. 

I'm sure our situation isn't unique and wonder if you've come across it before. Any advice gratefully received! 

Thanks, Sue

[Alan Collett]

23 minutes ago, Suzyq said:

Hi Alan, you're a font of knowledge!

I've got another good query for you! My husband works offshore for a company largely but not exclusively in the oil industry.  He is currently working on a new ship build in China.  His current pattern is 8 weeks on and 8 weeks off.  We live in UK and the HMRC allow him to be taxed at the usual rate(s) but then due to the UK shipping tax laws he is allowed to claim all tax back annually providing he is out of the country for 50% of the year (I'm pretty sure that's how it works).

When we move to Australia he will continue to work on the same schedule and for the same company. Can he continue to be taxed in UK? Would you know how that works? Initially he will be using an e visitor Visa until our 143 is granted. I am hoping to stay using a SC600, renewing until our 143 materialises. I will not be working (obviously) as I will be taking on grandparent responsibilities to support our son. 

I'm sure our situation isn't unique and wonder if you've come across it before. Any advice gratefully received! 

Thanks, Sue

Hi Sue.

This is too specific a situation for me to answer on a public forum - and is in the nature of advice for which I charge a fee.

If you would like to explore this with me (including receiving details of fees) please feel able to send a private message to me with your email address and phone number.   Thanks!

Best regards.

[Suzyq]

Fair enough Alan! When my husband is home, we'll be in touch. 

Thanks, Sue