Stack Exchange Network

Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

Questions tagged [australia]

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

1
vote
1answer
108 views

Do mortgage offset accounts typically accrue interest at high balances?

Say someone has a 100% offset account on their mortgage. This means that if they have: Loan amount: $150k Offset balance: $100k ...then their interest is computed as if they only owe $50k on the ...
0
votes
1answer
217 views

How to SWIFT transfer USD to an overseas bank receiving in USD from Australia without double fx conversion?

Say, I have some USD cash ~$2K. I want to transfer it to an overseas USD bank account in USD (must be SWIFT). However an Ozzi bank will make me first convert USD cash in AUD, then deposit into my ...
1
vote
1answer
60 views

Tax implications of elective dual US/AU citizenship

I am a US citizen born in the US to an American mother and Australian father. I am eligible to apply for Australian citizenship via citizenship by descent. I live and work entirely in the US and plan ...
0
votes
1answer
319 views

Unable to receive money from MoneyGram

I'm an Indian citizen and last time my Australian friend had sent me some cash through money gram. But I was unable to withdraw. MoneyGram said that the person sending money should also be an Indian....
-1
votes
1answer
40 views

How to calculate Stamp duty of North Territory in Australia?

Northern Territory Stamp Duty - General Rate Duty is calculated on the purchase price or unencumbered value of the dutiable property, whichever is the greater, as follows: Where the dutiable value ...
3
votes
1answer
242 views

Can I claim stamp duty as a tax deduction on my investment property?

We bought an investment property last year, and it's our first, so we're trying to figure out how to do our tax return. Is our stamp duty and lawyer costs tax deductible? Like say, if I purchased a ...
-1
votes
1answer
98 views

Should I wait till after I buy my investment property to get a new job?

So I'm considering buying an investment property. We plan to borrow 100% using our existing property as a security. However, this isn't an issue with cash flow - it's just for tax purposes (we'll ...
3
votes
2answers
247 views

Is it a good idea to get an principal and interest loan for an investment property?

At the moment, we have an investment property where we're paying 4.5% interest on an interest only loan. I'm considering moving to another bank which offer 3.88% fixed for 2 years but it can't be ...
1
vote
2answers
390 views

“Missing” Apartment Rent Payment

So I'm currently renting an apartment through real estate agent. I've been paying monthly. They claimed that they didn't receive the May payment and there is no unclaimed money in their account. I ...
0
votes
1answer
118 views

Low Value Pool and Investment Properties

If I have some investment properties which are being negative geared and I buy some new capital items such as a dishwasher or an air conditioner for the properties, what are the advantages and ...
0
votes
2answers
197 views

Transfer to Bank of America from Australia

I made an online transfer to Bank of America from Australia. The SWIFT code, routing number, name and address of the receiver are correct. However, I made a mistake in one digit of the account number. ...
8
votes
5answers
5k views

Borrowing money to buy shares for cashflow?

I currently have lots of equity in my house in Sydney. I am holding 2 investment properties that are negative and really draining my cash flow as we have young kids and wife only works part time. I ...
1
vote
1answer
153 views

If I live and do work in the United States but am paid to a bank account in Australia, where do I pay income taxes?

I live and work in the US (I am a resident here for tax purposes) I was paid to a bank account in Australia, but don't live there (I'm not a resident in Aus for tax purposes) Where do I pay income ...
1
vote
2answers
136 views

Why be a nominal shareholder in an ASX listed company?

I bought a copy of the share register for an ASX listed company today, and I was surprised to see around a hundred entities holding some nominal number of shares (usually one). In fact, I found about ...
1
vote
0answers
68 views

Do I need loans for a good credit score? [duplicate]

I've never required legal loans from banks/businesses (eg: home loan, car loan) Will this affect my credit score if i've never been in debt but later on in life decide to get a loan? Edit: Also, ...
3
votes
1answer
359 views

Will we get taxed on money transferred from my spouse's savings in USA to Australia?

My husband is an American citizen while I'm an Australian. We intend to move to Australia in few years. We reside in the USA at the moment. If I transfer my husband's saving to my Australian bank now, ...
-2
votes
1answer
131 views

Investment fund or ETF sanity check / ideas

I'm interested in moving some of my savings to either a managed fund or ETFs. Around 50k AUD in total + ongoing additions. Now I'm trying to decide whether to find a managed fund, or use Vanguard ...
1
vote
1answer
906 views

Is there a problem with withdrawing large amounts at a bank? Australia

If I want to withdraw $50,000 out of my bank. I know i'll be met with some suspicion at the bank and that they'll have to file reports. What are the symptoms of doing this in Australia. Will I enter ...
1
vote
1answer
567 views

Why an inner suburbs small apartment considered a risky investment

Recently I was looking at some properties available in large cities inner suburbs (in this case Sydney and Melbourne). What I found is that there are many small apartments available for rather ...
0
votes
2answers
39 views

Offsetting losses on share sales with annual tax returns in Australia

I currently hold stocks on a company that has lost 50% of its share value from the time I purchased, can I sell this and offset the loss while claiming tax for this financial year. (The shares were ...
4
votes
2answers
215 views

Home loan for Granddaughter

Can I use collateral of my $325000 home which I own in Australia to help my granddaughter buy a house in her name. Can the repayment be structured as Interest Only for initial few years. She is ...
0
votes
1answer
66 views

When is a sole trader liable for a tax refund?

In what situation do businesses receive tax refunds for their business in Australia? What are the requirements of a sole trading business to be liable for a tax refund?
4
votes
3answers
743 views

Will I have to pay taxes for Australia if I have an Australian bank account?

I live in New Zealand. I'm doing freelance work for an Australian company. They are not very open-minded in relation to new transfer money methods, they only do it with PayPal or international money ...
3
votes
2answers
187 views

Can I sell my own house? Australia

Are there any laws regarding this. I'm not an agent or anything but I have marketing and salesman experience. Will I be able to list my home privately on websites such as Realestate.com?
1
vote
1answer
53 views

Does Australia impose estate tax on foreigners investing in the Australian stock market?

Suppose a non-Australian, say a Singaporean, owns AUD $100k worth of Australian stocks and dies suddenly. Will estate tax be imposed on him? If yes, roughly how much?
1
vote
1answer
64 views

Capital Gain Tax calculation - Australia

This question is related to Australian CGT. I purchased an off the plan with the intention to move in and live. My situation has changed, moved interstate and the price has gone up by 15%. How do I ...
0
votes
2answers
55 views

Calculating tax when a promotion or reduction has been applied to the sale amount in Australia by a third party?

I am working on an app that resells a service in Australia. To encourage use of our app we want to provide promo codes to the end user. The money to fund this promotion comes from our marketing ...
3
votes
1answer
1k views

Do premiums go up after making an vehicle insurance claim?

Partner had a minor accident in the car. No one was hurt – basically scraped the side of a concrete wall so there are a few small dents and ugly scratches everywhere along the front of my car. I'm ...
1
vote
1answer
861 views

How to calculate foreign tax credit relief for salary arising in Australia when resident in UK?

I have been scratching my head over this one for hours... I've read more than I ever want to about double-taxation treaties and HS263 etc. Unfortunately, I'm still none the wiser about what to put on ...
4
votes
2answers
150 views

How to protect an exchange rate advantage while studying abroad?

I'm an American university student studying abroad in Australia for the next 6 months. Since I've arrived, I've been covering expenses with my US credit card (which has no foreign transaction fee) and ...
3
votes
1answer
255 views

Buying an apartment block one apartment at a time

Suppose, a person buys an apartment in a small apartment block. At some point of time, other apartments in the block also become available for purchase, at an attractive enough price. So the question ...
1
vote
2answers
3k views

Paypal and Tax In Australia

I am a blogger and live in a country where PayPal does not exist. My relative lives in Australia. If I use his PayPal this way, will I have to pay Australian tax? (He does not have a PayPal account ...
4
votes
1answer
587 views

How to start buying shares with small amount of money?

I am a new immigrant in New Zealand (NZ) who brought some money (not much though) from back home. Those money are resting in my bank and doing nothing. I want to invest some of them in stock market ...
0
votes
1answer
681 views

Australian superannuation funds holding bitcoin? [closed]

I'd like to move some of my Australian superannuation into a fund which allows investing in cryptocurrencies such as bitcoin. Do any such funds exist? If no, how would I minimise the auditing fees ...
6
votes
5answers
439 views

My university has tranfered me money by mistake, and wants me to transfer it back

I am a PhD student. I have a scholarship, which pays out a stipend each fortnight -- it is not employment. Sometimes the university might transfer me money as reimbursement. Sometimes, separately to ...
3
votes
3answers
309 views

What would be a wise way to invest savings for a newly married couple?

My wife and I were married about a year ago and, between us, have just over $150,000 (AUD) in our joint bank account. We're both in our late-twenties and work full time, but have fairly average ...
0
votes
2answers
665 views

Effect of company issued options on share price

A company has 100,000 shares and 100,000 unexercised call options (company issued). Share price and strike price both at $1. I assume the fact that these options exist will slow any price increases ...
1
vote
1answer
171 views

Buying an investment property in Australia - what are the advantages and disadvantages of building a house vs buying an existing one?

Currently, considering purchasing an investment property. We want it to be a passive investment so don't want to buy anything too old which may need to be fixed up etc. So we are thinking of either ...
3
votes
3answers
248 views

Why is the highest quintile the only quintile whose wealth exceeds its income? [closed]

Based on this study, the highest quintile of the population is the only group whose wealth is greater than its income. Why might this be? Is it because they are more likely to inherit wealth from ...
6
votes
2answers
243 views

How does the US Estate Tax affect an Australian with investments domiciled in the US?

The Australian Stock Exchange lists several popular Exchange Traded Funds that provided exposure to the US market (e.g. IVV and VTS). Some of these are CHESS Depositary Interests (CDIs), described in ...
-1
votes
1answer
96 views

Benefits And Tax Deduction For First Home In NSW Australia

Hi I purchased a house for which the settlement was on 01/07/2016. Just wondering any benefits or tax benefits I can claim for the period until 30/06/2016. I'm aware of the First Home Owner Grant (...
1
vote
1answer
99 views

Tax implications of share transfer to family member between UK and Australia

What are the tax implications of an Australian residing in Australia working as a director on a board of a small private UK company transferring shares to a family member in Australia. The shares ...
4
votes
4answers
155 views

How to measure how the Australian dollar is faring independent of the US dollar

When I watch the finance section of ABC (the Australian one) news, they talk about how the Australian dollar is faring against the US dollar plus a handful of other currencies. The problem is, I don't ...
0
votes
2answers
2k views

Which denominations do ANZ Bank ATMs in Australia dispense?

ANZ is one of the major banks in Australia. I can't seem to find on their website or via Google which notes their ATMs dispense. In particular, if I have a balance below $20 will I still be able to ...
3
votes
1answer
499 views

Do any Australian banks allow PayWave/PayPass over $100?

I use PayPass regularly on my MasterCard. I knew there was a $100 limit on contactless transactions, but I always thought you could go above that - and you'd just have to enter your PIN to authorise ...
0
votes
1answer
56 views

Interest on American dollars in Australian bank account

I have American dollars in an Australian bank account, which doesn't accrue any interest. Is there a way of getting interest on it?
6
votes
3answers
2k views

Do “crossed checks” work in the United States?

I grew up in Australia, and learned that when I write a check, I should generally cross it with two diagonal lines with Not Negotiable written between them. The idea being that this signifies that ...
4
votes
1answer
215 views

Is it better to hold cash in a mortgage offest or term deposit account long term?

I am refinancing a variable rate mortgage (current rates are low and expected to fall further in the next 12 months - currently 4.25%). I have a cash sum equivalent to about 20% of the full loan ...
0
votes
2answers
63 views

(Why) are all Australian mutual funds REITs or bond funds? [closed]

I wonder why Australia does not promote the big and global fund houses to introduce mutual fund schemes for people to have an option to invest in, instead of just the property/related choices. The ...
-1
votes
2answers
674 views

Is getting paid monthly better than getting paid weekly?

I live and work in Australia and I've been offered a contract that pays $1000 a day (including super) and the contract says I would be paid weekly. I've always used http://www.paycalculator.com.au/ ...