Questions tagged [australia]

For questions that relate to the laws, practices, and products of Australia.

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What values should I use for Bond Yield in Grahams Valuation outside the US

Total newbie here, please be gentle. I'm an Australian, going through the various intrinsic valuation models trying to wrap my head around what they mean and currently looking at Graham's Valuation: ...
demented hedgehog's user avatar
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1 answer
36 views

Selling overseas stocks and Australian tax obligations

I'm an Australian citizen and i worked for a US company for several years (and left it since 2022) While employed there i was given stocks as a bonus each year and the account was held at Bank of ...
Ahsan's user avatar
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Determining the Amounts Owed for an Australian Personal Loan

Lately, I have been lending someone from Australia money online. It has been going on for more than a year, and Alex (the person I lent money to) pays me back from time to time. However, he failed to ...
wilbur377's user avatar
1 vote
2 answers
123 views

How is payroll tax calculated in Queensland?

In QLD Australia I can see the payroll tax rate is 4.75 or thereabouts. I want to know how much my employer would pay on my behalf for payroll tax. It doesn't need to be an exact value but more a ...
AM73's user avatar
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How to calculate super amount?

What is the actual super amount if it is $2000 iclusive super? My friend says $190 is the super amount. I couldn't understand how?
Shammi Aktar's user avatar
1 vote
1 answer
843 views

Work for NZ employer but want to live in Australia and work remotely

I am presently working for a NZ employer and plan to move to Australia and continue working for same NZ employer remotely in Australia for at least 6 - 12 months or more. Can it be possible (assume ...
Angie's user avatar
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2 answers
673 views

What happens if my vanguard cash account is negative?

I have recently opened an account with Vanguard Australia. I have made some investments through a deposit into the cash account and some I have made some through the auto invest option. I am guessing ...
Jerome's user avatar
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Can we trade in Australian Stock Market outside of regular trading hours?

ASX regular trading hours are from 10 AM to 4:10 PM (including CSPA). I want to know if we can trade outside of these hours i.e. before 10 AM or after 4:10 PM. I know we can place orders from 7AM to ...
KnowledgeSeeeker's user avatar
2 votes
1 answer
123 views

Keep money in Australia but have access to them overseas

I am going overseas for extended period of time. Gonna have overseas residential address, mailing address and non Australian phone number. But I want my life savings to be in Australia with access to ...
eugenekr's user avatar
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4 votes
1 answer
188 views

Am I up for a $100K tax bill when I sell my investment property?

Australia Only... I purchased a property but never actually moved into it; it has been rented since purchased I paid $200K originally (1999) and could sell for over $600K today (2023) So, if I sold ...
John Mee's user avatar
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1 answer
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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 ...
Aussie's user avatar
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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?...
olivinethecat's user avatar
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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 ...
user1751825's user avatar
1 vote
1 answer
57 views

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 ...
lil's user avatar
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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-...
guest23441's user avatar
2 votes
2 answers
241 views

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 ...
Benjamin2002's user avatar
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2 answers
81 views

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 ...
abrogard's user avatar
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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 ...
aJ-47's user avatar
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2 votes
1 answer
77 views

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 ...
AliceRathbone's user avatar
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2 answers
22k views

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 ...
user1605665's user avatar
2 votes
1 answer
250 views

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 ...
hypercrumpet's user avatar
31 votes
7 answers
17k views

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 ...
Ally's user avatar
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2 answers
174 views

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?
CountDOOKU's user avatar
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2 answers
158 views

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 ...
viraptor's user avatar
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2 votes
1 answer
224 views

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 ...
aroth's user avatar
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1 answer
136 views

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 ...
Scott Becker's user avatar
1 vote
1 answer
71 views

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 ...
asmgx's user avatar
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2 votes
0 answers
50 views

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 ...
SmallChess's user avatar
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72 views

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 ...
impo's user avatar
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-1 votes
1 answer
234 views

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 ...
op420's user avatar
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2 votes
0 answers
170 views

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. ...
Prabu's user avatar
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23 votes
5 answers
7k views

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 ...
Bohemian's user avatar
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1 vote
0 answers
58 views

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 ...
curiousdannii's user avatar
2 votes
0 answers
39 views

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 ...
aJ-47's user avatar
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3 votes
1 answer
106 views

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 ...
Frames Catherine White's user avatar
2 votes
1 answer
761 views

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 ...
Nacht's user avatar
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1 vote
1 answer
286 views

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 ...
Mikie's user avatar
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1 vote
0 answers
55 views

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 ...
user1034912's user avatar
2 votes
0 answers
117 views

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 ...
Matty F's user avatar
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3 votes
0 answers
121 views

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 ...
curiousdannii's user avatar
2 votes
1 answer
284 views

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, ...
user99788's user avatar
1 vote
2 answers
171 views

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?
dwjohnston's user avatar
0 votes
2 answers
564 views

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. ...
user1330734's user avatar
3 votes
1 answer
338 views

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 ...
Matthew's user avatar
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3 votes
1 answer
80 views

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 ...
dwjohnston's user avatar
1 vote
0 answers
33 views

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 ...
Shitiz Garg's user avatar
0 votes
1 answer
132 views

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 ...
Rian199's user avatar
2 votes
0 answers
77 views

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, ...
Prabu's user avatar
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1 vote
1 answer
244 views

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 ...
benjimin's user avatar
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3 votes
3 answers
601 views

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 ...
Jesse's user avatar
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