Questions tagged [australia]

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

33 questions with no upvoted or accepted answers
Filter by
Sorted by
Tagged with
8
votes
1answer
563 views

With the Fringe Benefits Tax, should I even salary sacrifice for a car?

In Australia, some employers offer an option to salary sacrifice a car purchase. The cost of the car is taken from your pre-tax salary, so your gross income will be less, and therefore, your income ...
3
votes
0answers
59 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 ...
3
votes
0answers
177 views

Australian freelancing in UK

I am an Australian citizen and resident for tax purposes, but I have recently moved to the UK and planning on staying here for around 6 months. I have a valid working visa. I have picked up some ...
2
votes
0answers
39 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 ...
2
votes
0answers
41 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. ...
2
votes
0answers
27 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 ...
2
votes
0answers
107 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 ...
2
votes
1answer
214 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 ...
2
votes
0answers
57 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, ...
2
votes
0answers
42 views

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 ...
2
votes
0answers
37 views

Transfer UK pension to AU super fund

Is it possible to transfer a UK pension fund over to an Australian Super fund? I am a NZ citizen currently working in the UK. I will most likely move back to Australia in a year or two, where I ...
2
votes
0answers
189 views

Obtaining Figures For Australian GST Business Activity Statement From GNUCash

I have been entering all my financial records into GNUCash, and now I need to find the most efficient way to extract all the needed figures for the BAS. The Income & GST Statement looks like the ...
2
votes
1answer
85 views

What are my options for cashing out or consolidating my Kiwisaver and Australian Super?

I am a New Zealand citizen who has been contributing to Kiwisaver for the last five years in New Zealand, and have since moved to Australia, where I am making Australian Super contributions here. I'...
2
votes
0answers
53 views

Transferring inheritance in Australian dollars to the US

Should I transfer inheritance in Australian dollars to the US, where I live as tax resident? The exchange rate is currently so low, but is this better to lose money on the exchange rate rather than ...
2
votes
0answers
63 views

Claim duty back on phone purchased via contract termination because moving overseas

6 months ago I signed up for a 24 month phone plan which included a phone at no additional cost. Today I am preparing to move from Australia to the UK for a new job and I will have to cancel my ...
2
votes
0answers
126 views

Investing in DHA property in Queensland

I was interested in investing in DHA (Defence Housing Australia) properties in Queensland. Does anyone who may have any DHA investment properties within Queensland know how these properties have ...
1
vote
1answer
34 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 ...
1
vote
0answers
30 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 ...
1
vote
0answers
38 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 ...
1
vote
0answers
22 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 ...
1
vote
0answers
67 views

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 ...
1
vote
0answers
54 views

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 ...
1
vote
0answers
1k views

Living in New Zealand, working remotely for an Australian company - taxes go where?

I am a British citizen, currently residing in New Zealand under a 5 year Work Visa and for the past year have been working for a New Zealand based company. I am just about to change jobs to work ...
1
vote
0answers
68 views

What's the safest/easiest thing I can add to my credit report

I'm in the excellent range on the credit score, but recently it started falling due to lack of (recent) credit report entries. Since it's only 1pt / month, over last half a year, I don't care that ...
1
vote
0answers
90 views

Commonwealth Bank of Australia said they don't have SWIFT 103 message for International money transfer

few days ago i posted this wondering about how long a transfer could take from Australia to Tunisia. And today marks the 2 weeks period and i still got nothing, so i contacted my banker and he asked ...
1
vote
0answers
247 views

Australian Tax Digital Nomad

I am a NZ citizen working for an Australian company being paid into an Australian bank account through an Australian tax number and visiting Australia every 4-6 weeks for 3-4 days work related. I ...
1
vote
0answers
55 views

Is there a cheaper way to get money from a Chinese bank account to an Australian bank account than using the bank's SWIFT service?

My friend has arrived in Australia from China to stay for a year on a working holiday visa. He wants to transfer some of his money from his Chinese bank. If it makes a difference, on the China side ...
1
vote
0answers
362 views

Is Superannuation fund held in Australia, taxed in India for Australian national residing in India?

If a person is an Australian national, residing in India (OCI) for past 3-4 years. Has a Superannuation Fund in Australia (Equivalent of a PF in India). This Super Fund was created when the person ...
1
vote
1answer
964 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 ...
0
votes
0answers
42 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 ...
0
votes
0answers
25 views

Australian JobSeeker Eligibility for Kiwis living in NZ running Australian sole trader businesses?

I used to live in Australia. I started a small business, set up as a sole trader, still run the company but have lived in New Zealand for 12 months now. The new Jobkeeper fund allows for sole traders ...
0
votes
1answer
154 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 ...
0
votes
0answers
55 views

Can I pay a non-USA resident in stock?

I have a private C-corp company. I have a guy in Australia who is doing some work for me soon as a contractor. Is it possible to pay him in stock in my US based company? If so, is there anything ...