Guest Working to fish Posted June 19, 2007 Share Posted June 19, 2007 Hi to all I asked this question on a previous thread that i read without any response, thought i'd try again on a new thread. Is there any reason for having all your money in oz within 12 months? This seems to be mentioned alot in a previous thread. Confused. Link to comment Share on other sites More sharing options...
calNgary Posted June 19, 2007 Share Posted June 19, 2007 Hiya we were told by centrelink that any money brought into the country after 12mth is classed as taxable foreign income,however Bullcreek Bob queried this when i posted it last time and said he hadnt heard of it so id tend to lean against his info rather than centrelink ,,sorry if this has confused you more,, Cal x Link to comment Share on other sites More sharing options...
hedgehog Posted June 19, 2007 Share Posted June 19, 2007 The way I understand it is that you dont pay tax on any investments you have now for example the assets from your house wont be taxed at anytime, but say u moved to oz and were left some money in a will for example then that would be taxable. As its classed as a new investment or capital gain. This is only What I understand it to be so dont take it as gospel. Link to comment Share on other sites More sharing options...
Guest Working to fish Posted June 20, 2007 Share Posted June 20, 2007 thank you to all . Link to comment Share on other sites More sharing options...
Guest The Greens Posted June 20, 2007 Share Posted June 20, 2007 When we go to Australia if we get accepted, we were planning on leaving most of our savings gained over the last few years in the UK, and just taking some out now and again when we neded to. Does this mean we will get taxed on them. I’m worried about all this part cos I don’t understand it and my OH just says leave it to the accountant but thats no good. Can anyone advise me. Link to comment Share on other sites More sharing options...
Alan Collett Posted June 20, 2007 Share Posted June 20, 2007 Please - persons concerned about taxation issues should take professional advice, and be prepared to pay for it. Don't rely on comments on discussion forums - some of the comments above are simply wrong. For starters, free tax factsheets are available at Collett & Co Best regards. Link to comment Share on other sites More sharing options...
Guest BullcreekBob Posted June 27, 2007 Share Posted June 27, 2007 Don't rely on comments on discussion forums - some of the comments above are simply wrong Even though the above comment WAS made in a discussion forum - it can be relied on !! Lots of people have opinions and some people love to hand their opinions to anyone who'll listen but sadly opinions are so very often wrong. If you make an important decision based upon your understanding of an opinion it could be doubly wrong. Sometimes people (you ?) tend to hear what they want to hear rather than what is said. Good advice that can be relied generally costs money, because it cost the accountant, agent or advisor time and money to study, qualify in and keep up to date with; whatever it is they are giving advice on. Free advice is generally worth what you pay for it !! Link to comment Share on other sites More sharing options...
Guest Liam Posted July 9, 2007 Share Posted July 9, 2007 Please do not rely on advice from a Centrelink to make your final decisons. Centrelink will always advise you on general terms and tell you to get Tax and Financial Planning advice on your own circumstances. Tax issues especially require a good Accountant so use Alan at Gomatilda.com or find one local to you when your reach Australia. Liam Shorte B.Bus DipFS(FP) AMC Email: liam.shorte@genesyswealth.com.au Authorised Representative Representative No. 278214 Genesys Wealth Advisers ABN 20 060 778 216•AFSL No. 232686 Principal Member of the FPA Pro-Active Advice Pty Ltd Suite 40, 8 Victoria Ave, Castle Hill, NSW 2154 P. O. Box 6004 BHBC, Baulkham Hills, NSW 2153 Tel: +61 2 9634 1755 Fax: +61 2 9680 3750 Mobile: +61 413 936 299 Skype: shorte-in-oz MSN Messenger: liam.shorte@genesyswealth.com.au Link to comment Share on other sites More sharing options...
Guest Laura G Posted July 13, 2007 Share Posted July 13, 2007 I have been in Oz for more than a year, I tried to exchange £4,000.00 to $ I tried to use HIFX in the UK to do it as I had an account and I was told that now I was living in Oz I needed to open another account at HIFX in Sydney as this then put you on the radar of the Australian Tax Office as any income from overseas could be eligible for tax as it would be deemed overseas income Link to comment Share on other sites More sharing options...
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