Alan Collett Posted January 8, 2012 Share Posted January 8, 2012 Might be of interest to some. Best regards. Moving to Australia - Tax Essentials.pdf Moving to Australia - Tax Essentials.pdf Link to comment Share on other sites More sharing options...
jpzante Posted January 8, 2012 Share Posted January 8, 2012 Thank you Alan. This is very informative - John Paul http://towardsaustralia.blogspot.com Chronicles of my Independent Skilled Migration Application to Australia Link to comment Share on other sites More sharing options...
sunshine please Posted January 8, 2012 Share Posted January 8, 2012 Thank you alan :-)) I take it once you get to oz it's benificial to get a tax representative? With regards to the lafha, i saw they are thinking of scrapping it, am i correct in thinking your employer has to organise this for you? thank you Link to comment Share on other sites More sharing options...
Alan Collett Posted January 8, 2012 Author Share Posted January 8, 2012 Thank you alan :-)) I take it once you get to oz it's benificial to get a tax representative? With regards to the lafha, i saw they are thinking of scrapping it, am i correct in thinking your employer has to organise this for you? thank you It is a similar question to whether you should use a migration agent for your visa application, in that with research you may be able to lodge an Australian tax return without assistance. This said, in Australia there is scope to claim tax deductions that have probably not been encountered before. Re the LAFHA: yes, it is on the Aus Government's radar and is likely to be of reduced availability from 01/07/2012: http://www.gmtax.com.au/2011/12/significant-changes-to-living-away-from-home-allowance/ It is an allowance which is only available if an employer agrees to including it in your salary package. Best regards. Link to comment Share on other sites More sharing options...
woodyd Posted January 8, 2012 Share Posted January 8, 2012 Thanks for that, has cleared up a few little niggles i was having. Link to comment Share on other sites More sharing options...
Peach Posted January 8, 2012 Share Posted January 8, 2012 Might be of interest to some. Best regards. To what extent is use of an accountant a tax deductable - for Australian residents? Including overseas income / investments? thanks. Link to comment Share on other sites More sharing options...
Alan Collett Posted January 8, 2012 Author Share Posted January 8, 2012 Using a registered tax agent (such as us) for assisting the management of with one's tax affairs is a tax deductible cost - maybe I should edit the factsheet to make mention of this ... thanks for mentioning it, Peach! Best regards. Link to comment Share on other sites More sharing options...
Peach Posted January 8, 2012 Share Posted January 8, 2012 Using a registered tax agent (such as us) for assisting the management of with one's tax affairs is a tax deductible cost - maybe I should edit the factsheet to make mention of this ... thanks for mentioning it, Peach! Best regards. No worries :biggrin: Does that effectively make it zero cost? Or is it only a percentage you can reclaim? Link to comment Share on other sites More sharing options...
Alan Collett Posted January 8, 2012 Author Share Posted January 8, 2012 Unfortunately not zero cost for the taxpayer. Assume: * Tax agent fee of A$300 plus GST - total cost A$330. * You pay tax at 37% plus 1.5% Medicare Levy. => Tax reduced by A$330 x 38.5%, or A$127.05. => Net cost of tax agent is A$330 less A$127.05, or A$202.95. Best regards. Link to comment Share on other sites More sharing options...
Alan Collett Posted January 8, 2012 Author Share Posted January 8, 2012 Have now attached an edited factsheet in the original post ... Link to comment Share on other sites More sharing options...
Peach Posted January 8, 2012 Share Posted January 8, 2012 Thanks. Do you see yourself as a boutique service for expats? (and therefore charge a premium?). For example Deloitte want $2000 to complete my return for 2012 - how would this compare? Link to comment Share on other sites More sharing options...
Alan Collett Posted January 9, 2012 Author Share Posted January 9, 2012 Boutique? Yes, I guess so. We're certainly not H&R Block, have the cross jurisdiction expertise (UK and Australia) that most Aus accountants lack, and we have ex-Deloittes and other ex-Big 4 clients as clients. That said, we're not charging fees anywhere near the likes of Deloittes - so far as I know. As in the case of our visa practice we're fixed fee, with relatively low overheads. Happy to discuss with you off forum - please send me a PM or an email with your name and phone number if you would like to progress a fixed fee proposal (no obligation). Best regards. Link to comment Share on other sites More sharing options...
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