Questions tagged [australia]

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

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How can a single member SMSF be set up?

In a Self Managed Superannuation Fund (SMSF) each member has to be a trustee or a director of a corporate trustee and each trustee or director of a corporate trustee a member. However, a SMSF cannot ...
Victor's user avatar
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3 votes
2 answers
422 views

Whom do I pay the rent to?

I live in a house owned 50/50 by a brother and sister. The sister has moved out so it's just myself and her brother and she has asked me to pay rent just to her and her brother to receive nothing as ...
Rebecca shady's user avatar
1 vote
1 answer
117 views

Can I claim a SuperAnnuation -loss- on my 2011-2012 Australian Tax Office tax return?

can i claim any super annuation -loss- in an Australia Tax Office (ATO) tax return? if so, what section please?
Pure.Krome's user avatar
0 votes
2 answers
704 views

Is it possible to create a self-managed superannuation fund to act as a mortage offset? (Australia)

I have forced investments via Australia's mandatory superannuation scheme. The value of this is about half the value of the remaining mortgage debt on my own home. If I had access to this money, I ...
WW.'s user avatar
  • 159
3 votes
1 answer
150 views

Rewards credit card for large repeating purchases in Australia

I have no revolving credit card debt: I pay it off every month. I also have a significant throughput of charging/paying off, including a large repeating medical cost that will be at least $3000 every ...
JBWhitmore's user avatar
4 votes
2 answers
664 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 ...
abarax's user avatar
  • 149
0 votes
1 answer
78 views

Commencing a Pension from an SMSF

If I have bought a number of investment properties through my SMSF during the accumulation phase, which are all or mostly paid off with net positive income by the time I reach preservation age and ...
Victor's user avatar
  • 21k
5 votes
1 answer
335 views

Buying an Investment Property in a Self Managed Super Fund (SMSF)

What is the best way to structure the purchase of an investment property in a Self Managed Super Fund (SMSF)? Now that limited recourse borrowing is allowed in SMSFs to purchase assets such as ...
Victor's user avatar
  • 21k
0 votes
1 answer
126 views

Which reward/benefits card is the best value for money in Australia?

As per the question this is based off: Which card do you use and why? Some cards are similar but some not. This will also be affected by personal preference, so indicate why you chose a certain ...
Casebash's user avatar
  • 193
2 votes
1 answer
348 views

Residence vs investment property in Australia?

I find the Australian property tax laws really confusing. If you live in a house that you own, then it is your residence. In which case, you cannot claim the interest as a tax deduction. However, you ...
Joe.E's user avatar
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21 votes
7 answers
32k views

What is a good rental yield?

If you are thinking of buying a property for investment purposes, what is a good gross yield? I've been told you should take 3 zero's off the price of the property, so if a property is worth 400,000, ...
Joe.E's user avatar
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3 votes
1 answer
483 views

What are Binary Options?

What are binary options, what can they be traded on and what is the process in trading them? Also, are there any brokers in Australia who offer binary options?
Victor's user avatar
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6 votes
2 answers
2k views

I work in both Sweden and Australia - should I declare Australian based income overseas?

I am an Australian citizen working in both Sweden and Australia. I have been in Sweden for just over 3 years, my partner is Swedish. I travel to Australia regularly, at least twice a year, where I ...
user5461's user avatar
9 votes
11 answers
4k views

Trouble sticking to a budget when using credit cards for day to day transactions?

I recently got a credit card which is linked to an airline, and has a flyer points program for every dollar spent on the card in each billing period. Wanting to make the most of this, I started using ...
John Lyon's user avatar
  • 353
7 votes
2 answers
376 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 ...
user avatar
7 votes
1 answer
2k views

Transfer money from US ("prepaid") VISA Debit to AU bank account

I have a Citi prepaid VISA Debit card (these kind of cards) that has been issued in the US. I live in Australia, and would like to move money off of the card into my bank account. For reference, the ...
Matthew Iselin's user avatar
2 votes
4 answers
6k 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 ...
Evan's user avatar
  • 21
4 votes
1 answer
207 views

Should I put things like Family Payments, Interest on savings .. everything .. under my wife's name for Australian taxation reasons?

so it's tax time again. My wife and I aren't sure who's name/names we should be putting any of our incomes into for Australian Taxation reasons. To keep this simple, I'll use some fake numbers to ...
Pure.Krome's user avatar
3 votes
6 answers
2k views

Can business in Australia charge a transaction fee for using a credit card?

Related to the question of whether a merchant can charge you more if you want to use a credit card, I'm wondering if this is a common practice in Australia (and if the question I just linked to is ...
Michael Pryor's user avatar
3 votes
1 answer
196 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 ...
Highly Irregular's user avatar
7 votes
1 answer
208 views

How does taxation change when I have a child?

My wife & I currently both work full-time (in Australia) and I'm curious what changes would take place to our income taxation when we move from 2 incomes & no dependents to 1 income with 1 non-...
Mark McDonald's user avatar
13 votes
5 answers
4k views

If I have all this stock just sitting there, how can I lend it out to people for short selling?

Short sellers need to borrow stock in order to short sell. I understand they typically get this stock through a broker though some sort of arrangement where they pay interest. I was wondering, how ...
Joe.E's user avatar
  • 6,070
6 votes
3 answers
7k 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 ...
Joe.E's user avatar
  • 6,070
15 votes
7 answers
1k views

Where should I park my money if I'm pessimistic about the economy and I think there will be high inflation?

I'm in Australia. My prediction is the economy isn't going to fare very well. I also think that the property market is going to drop. I also think there will be high inflation to come. I can explain ...
Joe.E's user avatar
  • 6,070
6 votes
4 answers
387 views

Is the average wage a reliable measure for how much the average person earns?

This web site (http://www.livingin-australia.com/salaries-australia/) claims that the average australian wage is 68k per year. I've had a look at some other resources too and they all seem to use this ...
Joe.E's user avatar
  • 6,070
3 votes
3 answers
156 views

Should the price of fuel in Australia at this point be so high?

Checking the government websites (Australia) regarding the fuel prices and what influences them: International benchmark prices Taxes Other costs and margins Additionally there is this strange ...
o4tlulz's user avatar
  • 131
7 votes
2 answers
965 views

If banks offer a fixed rate lower than the variable rate, is that an indication interest rates may head down?

This is one of the major banks in Australia: http://www.anz.com/aus/RateFee/InterestRates/Rates.asp At present time, the variable rate is 7.80% but the fixed rate is 6.99% for one year. And it seems ...
Joe.E's user avatar
  • 6,070
6 votes
2 answers
17k views

What are the tax implications of buying US stocks from Australia?

I am thinking about buying some blue-chip US shares. My rationale being that the Australian dollar is currently buying a lot of US dollars, so this is a way to directly invest in some large US ...
dave's user avatar
  • 201
3 votes
1 answer
1k views

Tax obligations on foreign term deposits

I have dual U.S./Australian citizenship and reside permanently in U.S. I am expecting an inheritance from a relative's estate in Australia. If I open an account with an Australian bank and invest in ...
user avatar
6 votes
5 answers
361 views

Does it make sense to switch from a 30 year 6.99% loan to a 6.89% loan (Australia)

I have recently bought an apartment and have an outstanding loan for $200K. I looked around but the bank I presently bank with somewhat surprisingly offered me the best rate at 6.99% (discounted off ...
timbo's user avatar
  • 191
2 votes
3 answers
2k views

Can used books bought off Amazon be claimed as a tax deduction in Australia?

I recently bought some used books on Amazon. The books are directly related to what I do for a living. In Australia, I know that if you have the receipt for books like that, you could claim it as a ...
Joe.E's user avatar
  • 6,070
1 vote
1 answer
191 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.
didxga's user avatar
  • 185
1 vote
3 answers
674 views

What implications does having the highest household debt to disposable income ratio have on Australia?

I hear that Australia has the highest household debt to disposable income ratio in the world. What does that mean? What implication does that have for the economy, for the stock market and for the ...
Joe.E's user avatar
  • 6,070
11 votes
4 answers
4k 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 ...
gef05's user avatar
  • 6,971
8 votes
2 answers
2k views

In the U.S., what is the easiest way to buy Australian government bonds?

The NY Times says: He cited the example of buying a one-year Australian government bond, yielding 5.25 percent. He said he believed that the American dollar was going to lose value and the ...
dfrankow's user avatar
  • 637
4 votes
1 answer
452 views

Could someone please provide an example of a portfolio similiar to the GFP or Couch potato, but for Australia?

So I've been reading about MPT and came across the GFP and couch potato sites posted in this link, in any-experience-with-the-gone-fishin-portfolio and wanted to know of anything similiar to the GFP ...
Anonymous Type's user avatar
5 votes
3 answers
3k views

If I go to a seminar held overseas, may I claim my flights on my tax return?

i am an IT contractor and I would like to go to a seminar overseas. I'm paying for this by myself, however, I believe it is related to what I do and could be classed as an educational expense. The ...
Joe.E's user avatar
  • 6,070
8 votes
8 answers
8k views

Best way to buy Japanese yen for travel?

Going to Japan in about a week, and I'm looking for ways to buy Japanese yen. In Australia, it's pretty nuts. If you exchange money from them, they'll charge you 5-6% above the mid rate of the ...
Joe.E's user avatar
  • 6,070
3 votes
3 answers
348 views

When the Reserve Bank determines the interest rates, do they take the house prices into account?

My knowledge of how interest rates work (please correct me if I'm wrong) is that it is set by the Central Bank of a country. They're supposed to be apolitical and independent and their decision ...
Joe.E's user avatar
  • 6,070
3 votes
3 answers
352 views

What actions can I take against a bank for lack of customer service?

I currently have a mortgage with a bank. Two months ago, they had an offer to fix our home loan interest rate for a year. We accepted this offer, we signed a document and they signed it too. In ...
Joe.E's user avatar
  • 6,070
2 votes
2 answers
136 views

Should you check to make sure your employer is paying you the correct superannuation amount? [Australia]

Most people just assume their super is correct and is put in and I bet most people don't even check, but how do you really know if it's being paid? Is there heaps of checks and balances that ...
Joe.E's user avatar
  • 6,070
1 vote
2 answers
143 views

Have house price growth exceeded rent yield in Australia in the last five years (2005 onwards)?

I started renting possibly about five years ago. I'm not sure if the rent price has gone up or down. I'm actually paying more then than I was now, but the place I am living in now is in the suburbs ...
Joe.E's user avatar
  • 6,070
5 votes
4 answers
270 views

Is the Australian property market currently (late 2010) in a bubble?

I've been told that the Australian property market is more than 45% over valued, I've also heard arguments that there are justifications for this such as: increased rate of immigration, shortage of ...
3 votes
1 answer
82 views

Source for information about Australia and U.S. real estate market rent-to-price ratios?

Would like to make a comparison between the two markets, in particular during the global financial crisis.
Joe.E's user avatar
  • 6,070
2 votes
2 answers
216 views

Which international credit card would fit my requirements?

I am currently looking at getting a credit card for myself. However, as per this question, I would like to get a credit card from an international bank / credit provider so that when I move countries ...
a_m0d's user avatar
  • 353
1 vote
1 answer
134 views

Will bonds (including international bonds) be able to offer more than 7% annual return?

I am presently getting a 6% return on my savings in a high-interest account, calculated daily, paid monthly. I regard stocks as too risky for my 4 year savings plan but am interested in bonds as they ...
user avatar
5 votes
2 answers
175 views

Working abroad in Australia, what is involved financially and administratively?

I've always dreamed of making it down to Australia to work, intentionally for the long term but would probably go for 1 year as a "trial" (or at least force myself to go that long) What would the ...
James's user avatar
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