Questions tagged [australia]

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

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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
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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
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3answers
180 views

How do employers determine how much tax to withhold?

I work two jobs, both are casual, and I am claiming the tax free threshold from one job. Each time I am paid from the other job (the one I am not claiming the tax free threshold from), my employer ...
2
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2answers
224 views

Why are some managed funds' fees larger than their ETFs fees

In Australia vanguard offers the LifeStrategy® Balanced Fund (a blend of bonds, shares and so on), it has a management fee of 0.9% per year for the first 50,000$, 0.6% for up to 100,000$ and 0.29% ...
3
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9answers
597 views

Are stock options worth as much as shares?

I was undergoing salary increase negotiations (after a year) recently and it was decided a percentage of my salary was to be paid in shares. However, when the offer came, I noticed I would be getting ...
3
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1answer
66 views

Sole trader GST for small income business in Australia (aside from main salary)

Trying to find out how to handle this case. Next year will be even more fun as I've moved to New Zealand. For tax purposes, I'm a resident in Australia for FY2018. All good. I earned x as salary, ...
3
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2answers
5k views

How does GST on PayPal payments work for Australian Taxation?

I am an Australian sole trader and I have recently started publishing eLearning videos to view online at a .com website that pays into my PayPal account. Purchases are in USD and my share is paid ...
2
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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
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1answer
54 views

Do I pay tax in New Zealand or Australia as a resident of Bolivia but citizen of Australia?

I reside in Bolivia although I am an Australian citizen (but regarded as a non-resident of Australia for taxation purposes.) I was invited to teach a series of workshops in New Zealand over a 2-week ...
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4answers
821 views

When first incorporated, I created 100,000 company shares worth $1 each. What does this mean?

When first incorporated, I created 100,000 company shares worth $1 each. What does this mean? Does the value mean anything? Because I just started, no capital was paid. Do I also have to pay Capital ...
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2answers
199 views

How to choose an Online Investment Platform?

TL;DR: Although I know all the things I want out of an online investment platform, I have no idea how to find which platform best offers those things. I have spent some time organising and planning ...
35
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8answers
12k views

High income, sudden windfall

I currently earn quite a good salary (around $250,000 Australian dollars per year). Due to a recent investment coming good I am expecting to be receiving a windfall of around $1.2 million Australian ...
1
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1answer
174 views

Can I apply for immigration if I have a house mortgage to pay?

I am planning to continue to pay the mortgage after immigration. But I don't know if the bank will allow me to pay house mortgage from another country.
1
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1answer
214 views

Is it better for a couple to buy a house together?

Is it better for a couple to buy a house together; forfeiting (I believe) one of their First home buyer's grant. This way both put into the loan and it gets paid off much sooner resulting in less ...
2
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2answers
114 views

How to find out where my superannuation is invested

I want to know more about where my superannuation money is being invested. When I log in to my account, it shows me which asset classes my money is invested in, and what percentage of my total ...
1
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1answer
81 views

Declaring income when self-employed

As described here, I earn extra money (around $7000 per year) from a second job, in which I am running a business as a sole trader. Due to the nature of the work, I am mostly paid in cash, and deposit ...
1
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2answers
116 views

Change in equity in a company

I'm very new to being a shareholder in a business and know nothing of the financial side because I am just a shareholder and not allowed to view the accounts etc. Long story short my % in the company (...
2
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1answer
85 views

Is it better to draw down offset or finance a vehicle purchase (or neither)?

Suppose you have something like: House 1 - ~$550k value. You live here. House 2 - ~$575k value. Investment property. Tenanted at $570/week. Loan 1 - $250k, 3.9% variable P&I, $1500 monthly ...
1
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2answers
94 views

Put savings in Shares or Superannuation

I am 25 and live in Australia. As such my employer must pay 9.5% of my wage into a superannuation retirement account. I have and continue to save and currently have 18k in a savings account earning ...
1
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1answer
251 views

Saving for a house/saving in general vs putting my money in Super vs paying off my student loan

I'm at a point of my career where I'm starting to earn decent money and can put decent chunks away. The question I have is mostly around whether I should max out my superannuation contributions in ...
4
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4answers
600 views

Is buying an apartment a worse choice than renting, currently (2019) in Australia?

For one reason or another, an apartment is considered a bad investment in Australian cities. This is because the demand here isn't huge yet (people in general would rather live outer-city in houses/...
7
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2answers
361 views

How do reserve banks influence home-loan interest rates?

On the First Tuesday of every month the board of the RBA (Reserve Bank of Australia) meets and sets the target for the cash rate. I understand that they are trying to adjust the amount of money ...
3
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1answer
260 views

Do I need an ABN for self-employment?

I work as a private tutor in addition to my full-time job in the public sector. I know that I will need to include any additional income on my tax return since I will need to pay an extra tax. Do I ...
0
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1answer
621 views

A person wants to deposit 2.1 million into my account [duplicate]

A man wants me to transfer 2.1 million into my account and then have me purchase properties with the money. Am I being scammed? He has given his banking info, Password, and routing information.
3
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1answer
2k 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
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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 ...
1
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1answer
199 views

Are there tax rates for couples in Australia?

I'm a New Zealander who has moved to Australia to work. I'm getting married this year - we will both be living in Australia. She is a student on a scholarship, and I work fulltime. I'm wondering ...
2
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2answers
69 views

Rates and valuation notice is it equivalent to market value of a property in Victoria, Australia?

I received a rates and valuation notice from the council and the valuation of the property is approximately $80,000 less than what I paid for it 6 months ago. This is my first mortgage property and I ...
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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
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1answer
91 views

In a loan, how does account/admin fees work? [closed]

For a loan, how does monthly/yearly account fees work? Do they get added to the loan balance and will then affect the interest?
1
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2answers
6k 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 ...
1
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1answer
59 views

I had a tax return completed in Australia and New Zealand and have been taxed in both. How does this work?

I moved of to Australia part way through the tax year and then returned to New Zealand and worked. When I filed my tax return, it was automatically complete in New Zealand due to the IR3 file, but a ...
3
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2answers
187 views

How do I protect myself in this situation, and get a receipt for my payment?

Just over 3 weeks ago I bumped into someone's car on accident. There was no apparent damage to their car, but I insisted we exchange details in case. The person refused and said it was all right. ...
2
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2answers
12k views

What to do with copper coins in Australia

I've got a handful of Australian 1 and 2 cent coins, which are no longer regularly used (unlike the scenario in How to get rid of spare change). Much as I like feathertail gliders and frilled neck ...
1
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1answer
61 views

US permanent resident, AUS citizen federal retirement benefits

I have a relative who is an Australian citizen. They moved to the US at age 25, became a US permanent resident, worked and paid federal US taxes for ~30 years. At no point did they pay Australian ...
0
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2answers
104 views

When ANZ bank replaces a lost or damaged ATM card, will the new card be a duplicate or an entirely new card?

My bank here in Australia is currently ANZ bank. If I ask them to replace a damaged or lost card, will the new card be an exact duplicate or is a brand new card issues? Specifically, will the new ...
0
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1answer
211 views

non-resident: Shares trading in Australia

How can I trade shares in Australia while being a non-resident for tax purposes? Are their any special considerations just for not being in Australia?
2
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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 ...
28
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5answers
12k views

If I plan to buy a car in cash, should I let the dealer know?

Is it desirable for them if I paid in full? Should I let them know or should I keep it to myself? Will I get lower prices if I was willing to pay in full?
2
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1answer
711 views

Yahoo's finance data for dividends is flat out wrong for CBA.AX. Why is that? [closed]

I looked the the dividend history for CBA.AX https://au.finance.yahoo.com/quote/CBA.AX/history?period1=686152800&period2=1525010400&interval=div%7Csplit&filter=div&frequency=1d and ...
0
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1answer
315 views

How to contribute to my super account while a non-resident for tax purposes?

I'm an Australian who's residing overseas and I'm a non-resident for tax purposes who's sole source of income in Australian is interest on a savings account. I want to contribute to my super account ...
1
vote
1answer
134 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
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2answers
837 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 ...
2
votes
1answer
42 views

How to pay Australian GST for an overseas journal fee?

I have to pay open access publication fees for a journal in Hong Kong. The payment is supposed to be transferred via swift. Apparently, according to new rules, I should pay GST for this service (...
6
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2answers
313 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 ...
5
votes
4answers
212 views

Is it best to pay back only the minimal compulsory payments for HECS-HELP student loans in Australia?

I have a considerable amount in student loans by Australian standards. I have multiple degrees and they allowed me to get a job that pays well. With such a job, the Australian government requires me ...
3
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1answer
77 views

Tax deduction for donating to international charity

If one sponsors a child from an impoverished country through a charity like Save the Children international, can this contribution still be considered tax deductible in Australia?
2
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1answer
426 views

Property and investments in the UK but living in Australia what tax is due?

We are thinking of emigrating to Australia. We have a property in the UK that we wish to rent and we have some investments. This income would arise in the UK. But living in Australia would mean we ...
3
votes
3answers
1k views

How is a non-resident Sole Trader in Australia taxed on freelance work?

I am considering doing remote freelance work for an Australian business as a Sole Trader with an Australia Business Number (ABN). I am a non-resident in Australia. My question is: do I pay taxes on ...
4
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1answer
773 views

Overpaid Rent Owed By Real Estate

Over the course of my last lease I had overpaid around 2 weeks rent to the real estate. I was notified of this when I moved out, but despite chasing them up about it they have failed to refund me the ...

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