Questions tagged [australia]

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

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1answer
110 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
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1answer
164 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
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1answer
643 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
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1answer
586 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 ...
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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 ...
4
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2answers
495 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
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1answer
556 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
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1answer
68 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
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1answer
456 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
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1answer
331 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
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1answer
113 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
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3answers
224 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
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1answer
353 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
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3answers
143 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
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1answer
487 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
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1answer
64 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
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1answer
608 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
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1answer
204 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
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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 ...
6
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1answer
2k views

Is a public company allowed to issue new shares below market price without consulting shareholders?

A small public company I own shares in recently advised the market it has completed a share issue to raise money. The new shares were priced significantly below the current market price and there was ...
1
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1answer
178 views

If I have form a partnership which has done nothing but lose money, do I need to declare anything on my Tax?

I formed a partnership 6 month ago, with a ABN and a registered bussiness name. It is a very small affair, it has less than $1000 capital in total (across all partners). So far it has just lost money,...
3
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3answers
537 views

I plan to buy a car soon and I have the cash. Should I use my credit cards to pay for them?

I have enough cash to pay off a car I'm planning to buy. However, instead of using cash on a debit card, I thought of using my credit cards instead so I can earn points on them. Are there any ...
1
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3answers
737 views

Where can you find dividends for Australian Stock Market Shares (ASX) for more than 2 years of data? [closed]

I've been using yahoo to get in some cases ten years worth of historical stock prices for stocks. I'm interested in the dividends that the stocks pay if any. Yahoo Finance don't show dividends. But ...
2
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4answers
5k views

Deposit a cheque in an alternative name into a personal bank account (Australia)

I'd like to be able to deposit cheques payable to a business name into my personal bank account. I do not have a company (Pty Ltd) and at this stage it's probably more trouble than it's worth to set ...
2
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2answers
133 views

How do I determine the performance of my retirement fund with regular monthly contributions?

My retirement fund [Australian Superannuation fund] can be checked at any time. The fund invests in shares, which can go up - or down. Money is going IN regularly [monthly]. At any given time, how do ...
3
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1answer
3k views

Australian stocks - any dividend tax or capital gains tax?

Can someone please provide some information on this? I would like to invest in Australian companies and want to know about the tax rates. Am a foreigner who is non-resident.
2
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1answer
139 views

How do I work out which part time arrangement is better financially?

Next year my boy is going into child care and my wife is returning to work. We plan to put him in child care for three days a week and two days a week stay at home. I'm currently trying to figure ...
3
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1answer
187 views

Where is a useful comparison of Australian Superannuation schemes? [closed]

I'm a New Zealander that has previously worked in Australia long enough to have some superannuation there, but the political agreements that NZ has with Australia don't currently let me take my ...
1
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1answer
1k views

What do the points in a stock market index epresent?

For instance after the GFC, the ASX All Ords fell to about 3200. It last closed at 5777.2 (http://www.asx.com.au/) But what do these points actually mean in terms of what they represent?
0
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1answer
123 views

If I make a loss in trading stocks, can I state it as a loss of investment in the tax refunds?

I was wondering if I could turn around my losses (a little bit) to help with my tax refunds. If I have negative total profit from trading stocks/investments, will it help increase my tax refunds? I'...
2
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1answer
260 views

What are the running costs of owning a car, aside from fuel?

I'm getting a car later this year and saving up for it currently. However, as a first time car owner, I am not aware of the running costs of owning a car. Aside from fuel, what are the things that I ...
4
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2answers
965 views

Australian superannuation - simple index fund investments with low fees [closed]

I am a relatively young student with a fairly low superannuation balance. I am not expecting any substantial new contributions to be made to my super any time soon due to my income being largely ...
3
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2answers
429 views

How do I determine how much I can afford for a car?

I make about $70k AUD per year before tax. I currently have $10k AUD on my car fund. What I did was put $500-700 per week on that account, depending on how much I spent on other wants/needs. Now, I ...
6
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4answers
543 views

Buying shares in employer's company during IPO

So the company that I work for has just put out an IPO to float on the share market. They have offered employee's the opportunity to purchase reserved shares before the offer goes public, up to $10 ...
2
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1answer
161 views

Income tax loss credit after depreciation on negatively geared property

In Australia, my personal taxable income for a particular financial year before calculating depreciation on an investment property is very low (close to but above $0). This is after adding all rental ...
0
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1answer
470 views

Day trading in USA from Australia

I am an Indian citizen living in the USA for the past 4 years on work visa. I do trading occasionally (not day trading though), and as should be clear, I do have a SSN and Bank Account. However, I ...
2
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2answers
254 views

What is the most common and profitable investment for a good retirement in Australia?

I've seen a whole lot of questions in this website about good retirement investments in a range of countries, but none asking about Australia. Let me explain a little further my doubts: I'm currently ...
2
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1answer
845 views

What does it mean when a company will be conducting a non-renounceable entitlement offer?

Recently, a company (ASX:CTM) released a non-renounceable entitlement offer. What does it mean in general, and what does it mean for a shareholder like me? There seems to be a problem with the ...
1
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1answer
125 views

Dollar transfering from australia to India and back to Australia

If I send Australian Dollar to FCNR in India, which I have already paid tax here, then when I bring back the same amount to Australia in a few years, do I have to pay tax again here?
8
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4answers
3k views

In Australia, how to battle credit card debt?

I have $18K in credit card debt. What are my options in tackling this? Every month I am left with no extra money to pay anything more than minimum payment required (car, rent, another personal loan, ...
9
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1answer
359 views

Does being on the board of a bankruptcy-declaring company affect my credit rating?

If I am on the managing board of a company which declares bankruptcy, will it affect my personal credit rating? I am particularly interested in Western Australia.
0
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1answer
792 views

What are the consequences of being classified as a day trader, in Australia?

I read in a question here advice on how not to be labelled as a day trader. I trade quite often, but not as much to be labelled as a day trader based on what I read, but I'd still like to know what ...
1
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2answers
3k views

Cheapest/easiest way to convert AUD to USD on a short-term (2-3 month) basis

I am moving from Australia to the United States soon. Most of my cash is in AUD. When I arrive in the USA, I will be spending in USD. The AUD has been weakening substantially recently against the ...
4
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1answer
207 views

Are there disadvantages to day trading ETFs?

I bought an ETF a few months ago and I was thinking of selling it, however, I was wondering if there were disadvantages or additional fees if I treated ETFs like short term stocks.
3
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1answer
793 views

How secure is payWave debit card compared to a chip-and-PIN one?

My bank in Australia (SuncorpMetway) just issued me a new payWave Debit card (VISA) to replace my old/expiring savings account card. My old card required a PIN for any withdrawal or purchase. I ...
2
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2answers
2k views

What makes an effective and profitable trading system

What should I aim for to achieve an effective and profitable trading system? Should I aim to get as high a percentage of winning trades as possible (ie. 100% winning trades)? Also what percentage ...
5
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1answer
233 views

Investment options in Australia

I am an Australian PR and say I have 10,000 AUD in my savings account. Currently my bank offers a 4% interest rate credited monthly to my account. I do not need access to this money for another 2 ...
3
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1answer
855 views

Here's my plan for saving up for a house - What can I do to improve?

I'm 20 and I'm from Australia, have about $8000 saved up for my mortgage fund, hoping to get a hefty sum for my downpayment when I plan to buy a house in the future. The $8000~ savings came from my 6 ...
1
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1answer
132 views

Having more tax deductables than tax paid

my income for 3/4 of the year is tax exempt, being in the form a scholarship living allowance. I expect to have many more deductible expenses, than the amount of tax I will pay. Particularly since I ...
10
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4answers
334 views

What does it mean for a normal citizen like me when my country's dollar value goes down?

I live in Australia. From what I can see in the past few years (and still ongoing), the AUD value just seems to go down. Right now, 1 AUD=0.86 USD, and from what I've read in some websites, it's ...

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