Questions tagged [australia]

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

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5
votes
1answer
114 views

What solar panel subsidies does Australia have right now?

I'm thinking about buying solar panels for my house. Only thing is I'm not sure whether to wait. I've been told that the value of solar power in Australia has remained largely the same - this is ...
7
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1answer
2k views

If I'm an independent contractor in Australia, doing small jobs for a company in NY, do I pay taxes to Australia or The US?

I'm an Australian citizen, living in Australia. I've started doing some writing work for a company in NY on a project-by-project basis. The C.O.O asked if I could send him a W2 form. Having done a ...
4
votes
4answers
161 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 ...
1
vote
1answer
134 views

International Stockbroker

I live in Australia, but have shares in the UK. I inherited the shares so have no experience in buying/selling. How do I find a stockbroker who could sell the shares for me? My father left me several ...
-1
votes
2answers
741 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/ ...
4
votes
1answer
217 views

Investing savings in the UK vs Australia

I have been living in Australia for 4 years now, and although I don't intend to live here forever, I will be here for the foreseeable future. I have savings in the UK and here in Australia, and am ...
0
votes
1answer
64 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?
1
vote
1answer
113 views

Can I fully deduct capital losses against discounted capital gains?

I have shares in 2 Australian stocks that I am thinking of selling (at least partially). I am an Australian resident for tax purposes. Let's call these stocks; Stock ABC Stock DEF I have owned stock ...
2
votes
1answer
110 views

How should I research Super funds?

My current super fund is closing down so I need to choose a new one. How should I choose a new one, and what resources can I use? If it matters, my current account is small (under $50K), and I'm not ...
3
votes
1answer
645 views

New super account does not show up on Tax office info

I have an old super with a fund which we will call FOO, I was generally dissatisfied with their performance and service, so when I started a new job, I change to their preferred super-annuation ...
8
votes
3answers
3k 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
227 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 ...
10
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4answers
3k views

I'm moving to another country. Where should I keep my money?

I've been working in the US for a number of years, and am shortly to return to Australia. My cash is in an online bank based in the US. Would you recommend I move it to an Australian bank, or leave ...
0
votes
2answers
64 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 ...
4
votes
5answers
975 views

What should I do with my money?

I'm a final year University student with about 50k (AUD) in the bank earning interest at 2.8%. I have nearly finished my paid full time placement which is why I have a lot of money currently as I ...
3
votes
1answer
179 views

How much CGT due after moving and renting out primary residence in Australia?

I currently live in my primary residence with an outstanding mortgage, but will be moving out and relocating for work in a few months time. The initial post is for 2 years but may be extended ...
1
vote
2answers
217 views

Credit Cards and Home Loans

I am based on Sydney Australia. Looking to buy a house here. Customer of one of big 4 banks. Long story short, 6 Months back Talked to my bank about buying a house and discussed about my borrowing ...
6
votes
3answers
6k views

I'm in Australia. What should I look for in an online stock broker, for trading mostly on the ASX?

I'm currently with ETrade, and just from doing a little research, I think they're a little expensive. They're about $25 a trade where as other places are $15. I was wondering, when finding an online ...
3
votes
3answers
1k views

Does girlfriend have too much savings, time to invest?

My girlfriend is quite frugal and has successfully maintained an emergency fund of about $15,000 with an "incidentals" account that sits around $3,000. She does not earn a lot of money, about $35,...
3
votes
3answers
24k views

Can I make PayPal release pending balance on personal payment sooner than 30 days?

My uncle and my brother sent me some money over paypal recently, but it says I have to wait 30 days to receive it. It was made as personal payment. Is there any way to get that money any faster? I ...
3
votes
2answers
372 views

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years ?. My personal details are: Age 35, married with a 3 year old daughter IT consultant with a ...
1
vote
1answer
88 views

Lending to SMSF

I have owner occupied/investment property. I have $2M loan on my property, and $2M sitting on my offset account, therefore paying no interest. Can I use my cash in the offset to lend to my SMSF to ...
2
votes
2answers
159 views

How do I bring money overseas?

I am Australian and am going to Malaysia in a few weeks. Now obviously I would like to bring some money with me so I can buy things like food and the such. What would be the best way to go about ...
4
votes
4answers
321 views

Should I take a personal loan for my postgraduate studies?

About 6 months ago, I embarked on a Master's degree. Prior to this, I did the math on the postgraduate program and set aside about $31,000 on a separate savings account just for the postgraduate ...
4
votes
2answers
383 views

Which loan should I offset?

Imagine I have two loans, one is 300k and the other is 50k. I also have an offset account with 35k in it. All income is going in to the offset account and so it should rise rapidly. If i offset the ...
5
votes
2answers
312 views

How is negative gearing a good thing?

In Australia investors buy investment properties that are negatively geared to save tax. A lot of articles on property investment say that one of the cons of having a positively geared property is you ...
5
votes
3answers
1k views

Is it necessary to pay tax if someone lends me money to put into my mortgage?

So I have a fairly big mortgage and a family member of mine has a fairly large sum of cash. As he doesn't want to invest in any investments, it's just sitting there in the bank gaining interest in ...
2
votes
2answers
447 views

What happens when they run out of letters?

All the companies on the stock market are represented by three characters. Assuming 26 letters and 10 numbers, this results in 46656 possible combinations (unless my math is wrong), which is a lot ...
6
votes
1answer
2k views

Should I give my mortgage broker access to my bank account?

Is it safe to allow a mortgage broker to access my finances? They are requesting it in order to present account balances to our home loan issuer, and while I wouldn't suspect they are scamming us or ...
9
votes
4answers
316 views

Why do Australians get charged more for Internationally available Goods and Services?

It seem that when the same good or service is available in Australia as it is internationally, we always end up paying more for it in Australia. Even when you take the effects of the exchange rates ...
-4
votes
1answer
103 views

Has NAB CEO taken up his entitlements of new shares early this year?

Does anyone know whether the NAB CEO Andrew Thorburn has taken up all his entitlements for the new shares (i.e., increasing the amount of NAB shares he owns) during the capital raising early this year?...
3
votes
1answer
108 views

Investing Superannuation Australia

I am 31 and have just consolidated all my super funds in to my current provider. I have about $70,000 all up and it is getting topped up by about $10,000 pa. I feel like I should start managing this (...
2
votes
1answer
163 views

Tax deduct rental property expenses in future

I'm an australian doing postgrad in australia, and my current government awarded income is tax-exempted. I would like to know if in a couple of years when I start working, I can tax-deduct the ...
3
votes
1answer
605 views

Australian retirement (super) for permanent residents leaving Australia permanently

I am an Australian permanent resident. I am considering leaving Australia permanently. Under Australian immigration laws, I would eventually no longer be an Australian permanent resident. I am ...
4
votes
1answer
570 views

Austrailian tax resident earning salary in the UK - how much tax do I pay on foreign income?

I'm British citizen now living in Austraila (NSW) and am classed as a Australian tax resident. I have a full time (remote) job for a UK company who pay my salary into my UK bank account. I pay no UK ...
1
vote
0answers
54 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 ...
4
votes
2answers
483 views

What to consider when loaning parents $50k to pay off investment property

I am looking for the potential pitfalls I could be about to fall in, and ways to mitigate them. I live in Australia. My fiancee and I have roughly $100k in savings, which we want to use to buy a ...
3
votes
1answer
545 views

How do I best time my currency conversions between Australia, New Zealand, and Great Britain?

I have over AU$20,000 in savings in an Australian bank account, currently earning me 1.75%. I am now living in NZ where my savings account earns 3.75%. In about a year I will be transferring the ...
2
votes
1answer
66 views

Superannuation drawdown for non-resident

I'm an Australia citizen but not a resident. I worked there for ~10 years and have a considerable amount of money in my (compulsory) superannuation account. It's consolidated and relatively low fee, ...
1
vote
1answer
437 views

What is the psychology behind the Dead Cat Bounce Pattern and how can it be traded?

With the turmoil that hit most markets in the last two weeks followed by a small recovery late last week, are we seeing a classical Dead Cat Bounce appear infront of our eyes? Looking at the charts ...
0
votes
1answer
317 views

How can I get more interest than the 2.8% my bank is offering me on my $60,000 AUD? [closed]

I have recently been given a $60,000 AUD for the deposit on a house. I have since discovered that I am not earning enough to get a good enough mortgate. I think if I wait a couple of years I'll be ...
1
vote
1answer
111 views

Are Australian mutual fund fees large compared to US?

I've lived in the US and have mutual funds through vanguard where the management fee is around 0.2% (see link). I've moved to Australia, and I'm looking at fees of almost 1% (see link). Why is this? ...
4
votes
3answers
214 views

Beginning investment

I'm 24, live in Australia, married (no kids) and renting. My wife studies and works a well paying, flexible job. I work in an unskilled government job that pulls in $50k-$60k per year. Currently we ...
2
votes
1answer
280 views

Credit card company forgot to reflect a returned payment in my balance. It only showed up after I closed the account. Am I obligated to pay?

I made a payment about 9 months ago to pay off the balance of my credit card. For some reason the payment never went through. I didn't notice. The credit card company also didn't notice that the funds ...
0
votes
3answers
140 views

Taxable income on full-time job + business earnings

If I have a full-time job and a business on the side, will the full-time work and the business both contribute to the total taxable income or will only the business contribute. i.e. If business is ...
4
votes
1answer
456 views

I was paying my tenants' water usage without realising - how to recoup the money?

I live in Australia. I had some tenants living in my investment property for approximately 18 months (they moved out a few months ago). I have since sold the property and settlement is in a month. I ...
2
votes
1answer
63 views

Australian Tax Rates for overseas residents?

I am an Australian living in Turkey. My old boss in Australia wants me to do some policy work for him. What's the tax issues if I do it?
0
votes
1answer
604 views

Tax residency options for Australian overseas with no fixed residence?

I am an Australian citizen and work remotely for an Australian company. My pay goes into an Australian bank account and I also have a mortgage (actually a line of credit) on an Australian property. ...
2
votes
1answer
199 views

Current salary plans - criticisms and suggestions for improvements for a 21 year old

Hi everyone. I am 21 years old, working full time for the government as a Web Developer, and I'm looking to make the smartest decisions for my money. Assuming I get $2100 per fortnight, my planned ...
1
vote
0answers
351 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 ...

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