Guest dizzy blonde Posted July 24, 2007 Share Posted July 24, 2007 Hi I am sure this has been covered somewhere before but I am struggling to get some decent tax advice before we leave the UK next month. We have some savings and hopefully if we ever sell the house some equity that we need to shift to Oz. We don't need all of it straight away. The banks want to talk to us about offshore but can't tell us if we will be taxed when we eventually move money into Oz - so much for an international service. Contacted Prism Expat today but they only really seem interested in the Pension and want to charge £95 for a meeting to discuss Pension in more detail. Which I know we need to sort as well. Feel as though I am going in never-ending circles. We are going on a 457 visa if that makes any difference. Has anyone else found an agency that can do both UK and Oz Tax advice before I go completely bonkers! :chatterbox: Link to comment Share on other sites More sharing options...
Guest thekeg95 Posted July 25, 2007 Share Posted July 25, 2007 :mask:Put all of your money in a nice little offshore account say in the chanel islands and come to OZ with a couple of plastic cards. Tell the tax man NOTHING:jimlad:HA HA Yours in lawfull respect STEVE Link to comment Share on other sites More sharing options...
Guest newnico Posted July 26, 2007 Share Posted July 26, 2007 I was unimpressed with Prism, and have now contacted Alan Collett at GoMatilda, who posts on here. He knows both tax systems so should be able to help. Link to comment Share on other sites More sharing options...
Guest randpm Posted July 26, 2007 Share Posted July 26, 2007 Hi Dizzy! Just remember good advice is not free....... we found it hard to get good advice and used Geriant Davies at Montfort International....received great advice : Montfort International plc Geraint Davies MD - Independent Financial Advisers main +44 (0) 1483 202072 office fax +44 (0) 1483 202073 work 07974349937 Adviser Geraint.Davies@miplc.co.uk Financal Simon.Harvey@miplc.co.uk Visas john.adams@miplc.co.uk Adviser paul.davies@miplc.co.uk Sec. glenys.davies@miplc.co.uk office Home Farm, Shere Road, Albury Guildford Surrey GU5 9BL UK Montfort International plc FSA Ref No: 181199 Company Reg. No: 3131722 Hope this helps......... Link to comment Share on other sites More sharing options...
Alan Collett Posted July 29, 2007 Share Posted July 29, 2007 There are some valuable tax exemptions in Australia for temporary visaholders - I have a free factsheet if you are interested. If so, send me an email with Subject Line Temporary Tax Resident Factsheet Request. Don't forget the potentially valuable LAFHA too: Go Matilda - Your Gateway to Australia - News Best regards. Link to comment Share on other sites More sharing options...
Guest Liam Posted July 29, 2007 Share Posted July 29, 2007 Hi Dizzy I would always suggest that you look for a professional tax adviser with both UK and Australian Tax and Accounting advice such as the Go Matilda service. But if you choose to look for a local service then make sure its your local australian one when you get here not a local UK one before you leave as the 2 tax regimes are totally different and it is the Australian tax system that you will be the one under which you are assessed. I have seen people lose thousands for the sake of not getting proper Australian advice and acting hastily before coming over here. With your pension, remember you have 6 months to transfer it after you arrive so you can make sure you are making ther right move before committing to a transfer. Hope this is of help. Liam Shorte B.Bus DipFS AMC Wealth Advisor & Finance Specialist PRO-ACTIVE ADVICE PTY LTD Suite 40, 8 Victoria Ave., Castle Hill NSW 2154 PO Box 6002 BHBC, Baulkham Hills NSW 2153 Tel: +61 2 9634 1755 Fax: +61 2 9680 3750 Mobile: +61 413 936 299 liam.shorte@genesyswealth.com.au Genesys Wealth Advisers Link to comment Share on other sites More sharing options...
Guest margaret young Posted April 22, 2008 Share Posted April 22, 2008 All the info on GoMatilda website is so old 2001/2002 are you still in busines? Link to comment Share on other sites More sharing options...
Alan Collett Posted April 23, 2008 Share Posted April 23, 2008 Hello Margaret. Do you mean the Collett & Co website? If so, yes I agree the tax rates, etc are out of date - we are having a makeover of the Go Matilda and Collett & Co websites in the next few weeks, at which point the contents will be up to date. In the meantime, yes we are very much still in business! Best regards. Link to comment Share on other sites More sharing options...
Guest Gollywobbler Posted April 24, 2008 Share Posted April 24, 2008 Hi Alan I spent about an hour trawling Google Australia earlier tonight trying to find some links about LAFHA to add to a thread! I dish out the link to the Collett & Co website like sweets but you can rely on me not to read the fact sheets because I am convinced that I don't understand a word of them. However, I have just read and do more or less understand your sheet about LAFHA. (Enough for the general gist and I didn't want any muddling details anyway!) Thanks for the link because it will be very handy for other members of PiO. Plus it is a lot better than Gill muttering to people, "LAFHA. God knows what it is but there are lots of discussions about it!" Cheers and thanks again Gill Link to comment Share on other sites More sharing options...
Alan Collett Posted April 24, 2008 Share Posted April 24, 2008 Hi Alan & randpm Does the holder of a CP 173 visa get treated as a temporary tax resident in Oz, please? If so then there may be a lot of advantages in the 2 stage visa for some people? (You may not be aware, randpm, that I literally do cringe and creep away if I hear the word "tax." Alan does know this!) => YES, I THINK THEY DO. A SUBCLASS 173 IS A TEMPORARY RESIDENCY VISA UNDER THE MIGRATION ACT 1958. Also, do they need FIRB consent etc to buy a house? => I THINK THE STATUS OF A SUBCLASS 173 VISAHOLDER IS THE SAME AS A SUBCLASS 410 RETIREMENT VISAHOLDER. IN OTHER WORDS, IT ALL DEPENDS ON WHAT IS BEING BOUGHT, BUT POSSIBLY YES! Thank you Gill Comments above IN CAPITALS, Gill. Best regards. Link to comment Share on other sites More sharing options...
Guest AndrewL Posted May 2, 2008 Share Posted May 2, 2008 Alan, do you run/work in a Aus/UK tax firm in Melbourne? Link to comment Share on other sites More sharing options...
Alan Collett Posted May 2, 2008 Share Posted May 2, 2008 Business development plans preclude me from discussing this on a public forum ... happy though to discuss privately ... send me an email or a PM if you would like to know more. Best regards. Link to comment Share on other sites More sharing options...
Guest Pinhead Posted May 6, 2008 Share Posted May 6, 2008 Hi I am sure this has been covered somewhere before but I am struggling to get some decent tax advice before we leave the UK next month. We have some savings and hopefully if we ever sell the house some equity that we need to shift to Oz. We don't need all of it straight away. The banks want to talk to us about offshore but can't tell us if we will be taxed when we eventually move money into Oz - so much for an international service. Contacted Prism Expat today but they only really seem interested in the Pension and want to charge £95 for a meeting to discuss Pension in more detail. Which I know we need to sort as well. Feel as though I am going in never-ending circles. We are going on a 457 visa if that makes any difference. Has anyone else found an agency that can do both UK and Oz Tax advice before I go completely bonkers! :chatterbox: It doesn't matter where you put the money offshore it will still produce taxable income that should go on your Oz tax return irrespective as to when you send it to oz. Link to comment Share on other sites More sharing options...
Guest AndrewL Posted May 6, 2008 Share Posted May 6, 2008 It doesn't matter where you put the money offshore it will still produce taxable income that should go on your Oz tax return irrespective as to when you send it to oz. Dizzy blonde will be temp res so she won't be taxed in Aust. That's why they are being told to put funds offshore. Link to comment Share on other sites More sharing options...
Guest Pinhead Posted May 6, 2008 Share Posted May 6, 2008 If you live in Oz for more than 6 months in any tax year then your country of residency as far as tax authorities are concerned is Australia and therefore income generated worldwide should be included on your Oz tax return. Link to comment Share on other sites More sharing options...
Alan Collett Posted May 6, 2008 Share Posted May 6, 2008 No - a 457 visaholder is likely to be a temporary tax resident of Australia, and can therefore make use of the exemptions that came into effect 01/07/2006. Best regards. Link to comment Share on other sites More sharing options...
Guest AndrewL Posted May 6, 2008 Share Posted May 6, 2008 If you live in Oz for more than 6 months in any tax year then your country of residency as far as tax authorities are concerned is Australia and therefore income generated worldwide should be included on your Oz tax return. It's actually 183 days and not necessarily in a tax year :-) And there's several more tests... You may have missed the rather important changes in tax legislation that came into place 1 July 2006... The danger of taking advice on a forum, methinks! Link to comment Share on other sites More sharing options...
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