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Ken

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Everything posted by Ken

  1. Try SevenSeasWorldwide. We used a MoveCube going from the UK to Australia but they offer the same from Canada, and they'll even do smaller shipments down to individual boxes. International Shipping to Australia | Seven Seas Worldwide
  2. Capital gains are taxed when they are realised. Note that you get a 50% discount on gains on assets that you've held for more than a year. You would also get any tax that you had to pay in the UK on your foreign income as a tax offset but obviously because you use an ISA that would be zero. You would also only be taxed on the gain between becoming tax resident and realising the gain - so make sure you know how much those tech stocks are worth on the date you move!
  3. Also a lot of aged care facilities are run by regular (i.e. for profit) companies and don't get any of the Not For Profit benefits.
  4. You don’t need FIRB approval if you’re buying the property with an Australian citizen as joint tenants and you’re in a spousal relationship - not sure what the OPs relationship with his GF is like but if she's a citizen it's an option worth exploring!
  5. But modern TVs have netflix, sbs on demand, abc iview and foxtel apps (plus loads of others) built in. No coax required.
  6. Why do you need your own personal recording of a show when everything is recorded for you in the cloud? 10 years ago a 1 TB hard drive was a brilliant idea to record your shows but it's passed its sell by date. With the exception of the news and sport I can't remember the last time I even watched "live" TV it's all choosing and watching a recording from the cloud.
  7. It's the UK Sky team. Apparently their commentary goes to a lot of countries all over the world yet they happily commentate as if they are only talking to a UK audience including finishing the broadcasts by telling you about programs on other Sky TV channels in the UK! PS Foxtel is available both as a streaming service (Foxtel Now) and as a traditional cable/satellite channel via an IQ box. Personally I have a smart TV and didn't want another box connected to the TV so just have Foxtel Now but either option you can use on multiple devices via the Foxtel Go App. There's also a Foxtel Now box for those who don't have a smart TV but don't want an IQ box.
  8. There are a lot of different streaming services now available in Australia Disney+ ($119.99/year or $11.99/month) which you probably thought was just kids programs now includes Star which is all the movies and programs from 20th Century Fox which Disney now own. Britbox ($89.99/year or $8.99/month) full of old BBC and ITV shows plus a handful of new programs Netflix (from $10.99/month) Binge (from $10/month) Stan (from $10/month) Hayu ($6.99/month) Amazon Prime ($6.99/month) Or if you really want to splash out:- Foxtel Now (from $25/month, Sports +$29, Movies +$20, Drama pack including BBC First +$10, Kids pack +$10, Doco Pack +$10 all packs $104/month) I splash out for Foxtel purely for the Formula 1 coverage. When Foxtel's current contract ends expect the F1TV channel to be legally available in Australia.
  9. No you haven't grasped it. You have to follow the Australian rules first and make deductions including mortgage interest to calculate the Australian tax payable. You then reverse all of those deductions and make the UK deductions to calculate the UK tax payable and there is a much reduced mortgage interest relief if you are a higher rate tax payer, but you don't have to pay all of that tax because you deduct the Australian tax paid from that figure. That is of course putting it in simple terms. Because the tax years end on different dates you'll never really be working with the same numbers for income or deductions in the two countries tax returns even where the rules are the same. Also CGT is payable when you sell the property not when you move in but you can get a valuation at the point you move in so as to have the amount for the future.
  10. Australian rules apply to Australian tax, UK rules apply to UK tax. Since the property is Australian property you would taxed on it in Australia according to Australian rules. Since you are resident in the UK you would also be taxed on it in the UK according to UK rules but would be allowed the tax you paid on it in Australia as a tax offset (the fact that the Australian tax paid was calculated according to Australian rules is irrelevant). The Double Taxation Agreement gives Australia the first bite when the property is in Australia, the UK only gets a bite if the UK tax exceeds the Australian tax. The only tax issues with moving into a property you had previously let out is the CGT when you sell it as you wouldn't get the private resident exemption for the period you let it out before living in it (although you can get it for up to 6 years of letting it out after you've lived in it). I should also point out that Australian tax is less favourable to non-residents. You will get no tax free allowance on the rental income and if you have to sell the property before returning to Australia you'll be hit by CGT on the entire gain with no CGT discounts available to you (such as the 50% discount for holding an asset for more than one year).
  11. That would depend upon whether or not they are real Sydneysiders or merely people from the 'burbs!
  12. The problem is that if you take the worst case scenario you will get the result that it's not affordable because that what the worst case is. You probably will be in that worst case scenario to begin with (and should come over with enough in the bank to cover that period) but it's equally unrealistic to assume that will be your permanent situation. Minimum wage is $753.80 per week = $39,197.60 per annum plus Super and many industries have award rates which impose a higher minimum wage.
  13. There might be a law that grants access to Centrelink but a law that applies only to the ATO doesn't apply to Centrelink.
  14. Having looked up and seen that an 887 is issued onshore, then yes the time between the police check being issued and the visa being granted must be less than 12 months. Note however that when the CO comes to process your visa, if the police check has expired they will merely ask for a new one it doesn't cause the application to be rejected.
  15. Don't forget to remind them that despite the much hyped end to mortgage interest on investment properties not being deductible they can still claim a tax credit for their interest in the UK which for basic rate tax payers is just as good (and nearly all people won't have enough UK income to be higher rate tax payers after they've emigrated). That should earn you a bit more commission!
  16. If you are asking the date that it must be still be valid on, then that is the date that you must enter Australia by (if the visa is issued offshore) or the date the visa is issued (if issued onshore). We pre-loaded our police checks and medicals (as was usual in those days) but because visa grants then took much longer than expected (processing times went out from 3 months to 11 months) when the visa was issued we had only 6 weeks in which to make our first entry into Australia.
  17. For Old Age Pensions the info (and the exchange rates) probably feed straight in with no human intervention so the Aus pension payment can be automatically adjusted. Not really any work of checking involved. For private pensions on the other hand it would be a lot of work.
  18. I decided to look into this. Clearly stated on the DWP website is: DWP may share information with and get it from other organisations such as: social security organisations in other countries Personal information charter - Department for Work and Pensions - GOV.UK (www.gov.uk) Clearly Centrelink are being told how much UK pension you've been paid straight from the horses mouth - far easier than monitoring foreign bank accounts!
  19. The Australian Tax system has one set of rule the UK tax system has another. Never expect the two to be the same. Yes, in Australia mortgage interest on investment properties is deductible whereas in the UK you get a tax credit of 20% of your interest. Your UK tax return is for the year to 5th April and is in GBP, whereas your Australian tax return is for the year to 30th June and is in AUD. Even when they contain just the rental income for the same property the numbers are never going to match and that's even before you take into account the difference between what is (and how it is in the case of mortgage interest) deductible.
  20. There is definitely information sharing between HMRC and the ATO. I don't know that there is definitely information sharing between DWP and Centrelink but it wouldn't surprise me.
  21. Unfortunately most of that FX loss would have been made between 2006 and 2009 when your husband wasn't resident in Australia so you can't claim it in an Australian tax return. The taxable gain is that between becoming a (permanent) tax resident in Australia and selling the property. In an ideal world you would know the value of the property on the date you arrived in 2009 (that's assuming you moved on a PR visa - if you arrived on a temp visa it's the date you received your permanent visa), but in reality you can apportion the appropriate proportion of the gain on a straight line basis from 2006. You have the option to use the FX rate at the time of sale for both the purchase and sale price but you can also use the rate on the date you moved. Sorry, but you cannot use the rate from 3 years beforehand. Any tax you have to pay on the gain in the UK can be used as a tax offset in Australia.
  22. Question 1: If you take your Super as a lump sum while still resident in Australia then it will not be taxable income in the UK (the foreign income of a non-resident is not taxed in the UK). There is no tax of the transfer of money that you had before you became a resident regardless of the source of that money (super, employment, property sale or anything else). Question 2: There are no ATO tax implications on cashing in your Super (provided you are a citizen or permanent resident - for temporary residents punitive tax rates apply). The Double Taxation Agreement assigns pension income to be taxed in the country of residence - so if you are living in the UK it will be taxed by HMRC not the ATO. This applies whether you receive it in a UK bank account or an Australian bank account, and yes this does mean it would taxed in the same way as any other UK based earnings (except of course that there would be no PAYE deducted) and taxed accordingly at the appropriate marginal rate of tax.
  23. To put that into perspective, the 2016 census figures show the population of Cairns as 150,041 and the Gold Coast as 540,559, so 1:3.6 Your 2019 crime stats are 18,000 to 65,000 so 1:3.6 Clearly therefore neither area should be regarded as more crime ridden than the other.
  24. It would be private and domestic so you wouldn't be taxed. If you were liable to CGT the fact that the transfers are below $250K wouldn't help unless you were holding them in different bank accounts as it's the total balance in the account before the transfer that is the measure for the eligibility to elect to have the gain ignored not the amount of the transfer.
  25. As well as a box to tick on your tax return (so they don't chase you for future tax returns if they're not applicable) there is a date to enter on the form as to when you ceased to be resident (for tax not immigration purposes). Once you take up residence again you will need to fill in a tax return for that year and complete the date on there on when you became tax resident again. The tax free allowance is pro-rated when you are not resident for the whole year but the tax brackets are not - so you still a full year's worth of the 19% tax bracket even if you were only in Australia for a month of the year, hence the reason you'll (probably) be due a tax refund.
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