Questions tagged [australia]
For questions that relate to the laws, practices, and products of Australia.
337
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Can an Australian tax debt be a problem for an Australian passport renewal?
I'm an Australian citizen and live in Europe. I departed Australia a decade ago and lodged my final tax return with the Australian Taxation Office at that time. The outcome was a notice of assessment ...
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2
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291
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How to interpret the salary in this job offer
I received a job offer from an Australian company.
In the offer, it states: "Details of the Offer: $108k Salary Package (AUD); Including super, plus quarterly bonus."
How do I interpret this?...
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2
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Do I charge GST if website was abandoned prior to launch?
If I've built a website for a customer, but the customer ultimately decides to abandon it, before launch, do I still need to charge GST for the work completed?
GST is for goods and services, and since ...
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Trustee on ISA any tax legal implications
My cousin moved to Australia years ago and his fixed term ISA has matured. He has paid tax on the interest in the uk but says he has no uk bank to move the money to as the bank has closed it. He ...
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Should I move my AUD ETF positions to EUR during a EUR weakness?
I used to work in Australia as an expat but since have moved back to Germany with no intentions to return.
In my depot I have a 35,000 AUD iShares Core S&P 500 ETF (IVV.AX) position including 5-...
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Australia. Joint Ownership with ex multiple properties. Are we in business?
hypothetical:
Australia.
Divorced couple.
We have joint ownership of a number of residential properties.
Not 'tenants in common' - 'joint tenants'.
Neither of us is in business though one of us has an ...
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2
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142
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TransferWise Transfer Being Recalled
Recently, I sold cryptocurrency to someone in Australia via a bank transfer. I had him transfer the money from his bank to my TransferWise (Wise) AUD account. A few hours ago, I got an email from Wise ...
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What To Use For Recording A Rental?
We've rented our old place. So we've got obligations now under landlord and tenants act 1936 and residential tenancies act 1995 to keep proper records.
A new thing for us.
Getting by with a ...
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70
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What is an acceptable daily expenditure budget for Melbourne Australia? [closed]
this is a very generalist question and I understand will have lot of variables at play. However, I'll try my best to make it as specific as I can.
I'm after an acceptable everyday living expenses ...
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Beginner capital gain tax on shares in Australia
I am thinking about depositing some of my money (500-800 AUD) into eToro and buy some shares, just for building good money habits. But I am unfamiliar with the tax implications that I have to face (if ...
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What does income inclusive or exclusive of super mean?
In Australia when a job add says the income is inclusive or exclusive of super what does that mean?
e.g. What is the difference between a job that says 55K inclusive of super vs 55K exclusive of ...
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Does a non-US-citizen leaving US and returning to Australia avoid capital gains tax?
I am an Australian citizen who has lived in the United States for over 10 years on work visas, filing with the IRS and paying taxes. During that time I purchased shares in a US company, and those ...
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How can I gift $41,000 to my friend anonymously? (Australia)
We both live in Australia. I don't want him to know it's from me. But I’m not hiding from the government. I’d prefer the money to go into his bank account so he can see it's real money. I have his ...
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What to look for when opening a brokerage account for a beginner?
I am John and I am 18 years old. I am looking to open a brokerage account in Australia. My question is what characteristics should I look for when opening a brokerage account as a beginner?
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What are the risk types for a large amount of savings in an index fund
I'm curious what are the possible things that can go wrong with storing half of savings in a single index fund. Specifically, I mean things other than the market going down - these are long term ...
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What is the tax status of assets recovered via bankruptcy proceedings?
Say someone held some non-cash assets (shares, cryptocurrency, etc.) with a third-party business that went bankrupt. They become a creditor in the bankruptcy proceedings, lose access to whatever ...
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What kind of professional should I speak to regarding protecting a house from auto defacto?
I am currently building a house for myself. My partner is moving in with me; first into a rental property, then once the house is built we will move into the house together. I have read a lot of ...
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Link Australian and Canadian bank accounts
I used to live in Australia and still have my bank account active there
Now I am in Canada and have Canadian bank account
I want to add my Canadian bank to my paypal.
Paypal allows to add US bank with ...
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49
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Norway Merkur market from Australia?
I'm having troubles trying to find a way to buy shares from the Norway Merkur market as an Australian. The Australian banks I contacted are not offering Norway shares.
I'm struggling, and failed to ...
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66
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Focus on mortgage or keep investing
I'm 24 and recently purchased a property. I'm wondering whether or not I should keep my investment account open or focus solely on bringing down my mortgage.
I have been investing with Raiz (I think ...
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Parse JSON data from ASX into Google Sheets for Exchange Traded Products - not companies
I had asked this question on the StackOverflow website - but no luck.
I am trying to develop a Google Sheets-based portfolio tracking sheet that is able to retrieve daily prices for the securities in ...
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145
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Passing a property from parent to (adult) child in Australia (NSW)
My father is retiring and would like to pass on the family home to my sister and me. We are both adults now and do not live in the home. I should also so mention, we are based in Sydney, Australia.
...
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Why do small merchants charge an extra 30 cents for small amounts paid by credit card?
Jurisdiction Australia, but could apply globally for all I know.
Looking at major Australian bank websites, their EFTPOS contracts mention nothing about transaction fees being different for small ...
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Has Sharesight calculated my dividend's foreign source income correctly?
I recently received my first dividend from the ASX:IVV S&P 500 ETF. In the Components of Distributions announcement it says that the Foreign Sourced Income is 99.9998% of the cash distribution.
I ...
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Super contributions splitting
I came across contributions splitting recently. So my employer contributions go into my super account and I believe they’re taxed 15%.
If I choose to contributions splitting which is max 85% of ...
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Why does the ATO have "unclaimed super", should I do something about it?
I am an Australian Citizen currently living in the UK.
I logged on to the Australian Tax Office (ATO) website today an the ATO tells me i have unclaimed super.
It's about $3000, and is exactly equal ...
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389
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Can an individual use the Open Banking APIs in Australia, or must you go through an Accredited Data Recipient?
I've been excited to learn about Australia's Open Banking initiative. In particular, I had hoped that I would be able to use my own bank's APIs to automatically access my bank transactions, so that I ...
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229
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Off-market transfer of shares in GnuCash
I use GnuCash for my personal accounting and for tracking investments in shares through my self-managed superannuation fund (SMSF). Recently I wound up the SMSF and transferred the shares into my ...
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46
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What are Fringe benefit employee contributions?
While preparing my company tax return, i came across this curious phrase in the Australian Company income tax return guide (link here)
Fringe benefit employee contributions
Employee contributions ...
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AMT ISO deferrals for nonimmigrant. Sold shares after leaving US
I lived in the US from 2013 and 2016 on an E-3 nonimmigrant visa.
As part of my full-time employment contract, I was granted ISO shares in a pre-IPO company.
I exercised most of the vested shares in ...
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90
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What are the implications of an Australian-domiciled S&P 500 ETF?
So I'm considering investing in the Australian IVV S&P 500 ETF. In 2018 it was converted from a US-domiciled fund listed on the ASX using depository receipts to an Australian-domiciled fund. I ...
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279
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Forced closure of retirement fund: Best use of lump sum
I have been working in Australia for several years, with a temporary residence visa. I expect to soon be returning to my home country (UK). At this point, my superannuation account will be closed, ...
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Donating to a 501c charity from Australia
I make monthly donations to various open source projects via Open Collective which is a 501(c)(6) organisation.
I live, work and pay tax in Australia.
Are these donations tax deductible in Australia?
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407
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Tax and CFDs - is income on withdrawal or at trade execution? Australia
I wonder if for tax purposes, is income realised when funds are withdrawn into a bank account or when a profitable position has been closed?
From what I understand so far, it is probably the latter. ...
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318
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Can Directors issue themselves shares during raise?
I was wondering if it is legal for company directors that also work and operate the business to gift themselves shares during a capital raise in order to retain their controlling interest in the ...
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Optimising super contributions, with intent to buy a house
I want to check if my understanding here is correct:
Here's my situation:
I earn $135K + super, my wife earns basically nothing, she gets a scholarship which is not taxable income.
I am a NZ ...
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32
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Tax implication for a Temporary Resident in Australia while in another country?
I am a student in Australia (making me a Temporary Resident for Tax Purposes), and an Indian citizen. I work as a sole trader / self-employed individual (web development freelancing), and according to ...
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Waiting for a refund that was approved 4 months ago. Company stalling and not getting back to me. Can I charge them interest on the sum they owe me?
As the title says, I booked a ticket with an airline (Condor Air) August, 2019. On December, 2019, I was granted a refund because their parent company went bankrupt and the airline stopped operating ...
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66
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Property conundrum - UK vs Australia
I'm an Australian living in the UK and have been here for 5 years. I've saved up lump sums on both sides of the world. They are both enough to put forward towards a deposit on a property.
Currently, ...
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Salary packaging in Australia
How does salary packaging work in Australia (2020)?
Is it effectively just a tax deduction for high ongoing vehicle costs?
(For example, to determine whether salary packaging is a personally ...
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3
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575
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50k into 24 month 1.15% p.a. term deposit, did I make a mistake?
Context:
I'm 23 y/o, live with family for obvious financial reasons. While I do pay for all the pet care/internet and some communal food/fuel I obviously am still mooching a lot from my parents.
The ...
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How does the Up bank KYC work?
I recently signed up for Up bank.
The process went like this:
Go to to the website, download the app to your phone.
Enter your phone number.
Enter the SMS-sent verification code.
Enter your ...
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121
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Transfer from US 401k fund to Australian Superannuation fund
I worked in the USA for a number of years and have now relocated to Australia. I have balances in both US 401k fund (+ IRAs) and Australian superannuation fund.
It seems that the Australian ...
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460
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How safe are neo-banks?
In Australia there are a swath of 'neo-banks', banks that have no physical presence - typically are a 'mobile-first' experience. Some examples are Up, Xinja, 86400.
These banks are typically pretty ...
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Income Tax Paypal / Ebay sales (Australia) limits
Work were throwing away a bunch of boxes full of e-waste and I was able to take them for free. I have started selling the items on Ebay and getting paid through Paypal. I believe the max total ...
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What happens to the insurance payout on home insurance if the policyholder dies when the home is destroyed?
After talking to my dad the other week, he mentioned his home isn't insured, because he can't afford it. I've been looking up policies which would suit him, and I'm planning on paying for the policy ...
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136
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To opt for interest only home loan and save for next property down payment or keep paying P&I to reduce debt AND borrow more for next property
I currently own an investment property which I bought to live in (lived in for couple of years) and now has rented out as I moved (renting) in a better area for kids school.
I am comfortably managing ...
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Income tax on paypal ( Australia )
I had some money in a foreign PayPal account which I earned before coming to Australia.
Later, I moved to Australia in July 2019 as an international student. And in order to withdraw the money to my ...
2
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0
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47
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Advice for Australian with dual citizenship (US/Australia) married to a US citizen and they move to Australia
If both myself (dual citizen usa/australia) and my husband (us citizen) are living in Australia and we each make over $150,000USD per year - are we really in a bad spot with US taxes and getting ...
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69
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Capital Gain report with currency conversion of purchase cost
I have setup gnucash in my windows laptop. It does what I want and it does flawlessly. I have one question though. My default currency is AUD. I have investments in shares in indian currency. Using ...
