Questions tagged [australia]

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

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53 views

Does Australia impose estate tax on foreigners investing in the Australian stock market?

Suppose a non-Australian, say a Singaporean, owns AUD $100k worth of Australian stocks and dies suddenly. Will estate tax be imposed on him? If yes, roughly how much?
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4k 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 ...
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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 ...
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1answer
110 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? ...
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996 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?
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122 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?
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2k 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 ...
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1answer
130 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 ...
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2answers
126 views

Investment property information resources

I'm thinking of buying some investment property, however I have no idea where to start with it. I understand that there are a few kinds of property investments and a bunch of laws and tax variations ...
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1answer
130 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 ...
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2answers
78 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 ...
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2answers
115 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 (...
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1answer
55 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 ...
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1answer
83 views

Australia- Bank account for newborn

I have just acquired a newborn, a would like some advice in setting up long term financial plan. I don't have a target amount in mind, just to have some money to help her when older (roughly 18-21 ...
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1answer
46 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 ...
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1answer
234 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 ...
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1answer
92 views

How to estimate for Capital Gains when investing in Vanguard Managed Funds

I am saving up money now for my daughters college education which will happen in 18 - 20 years. My plan is to invest in vanguard ETF - "Vanguard Australian Shares Index Fund(VAS)" with an initial ...
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1answer
155 views

If I live and do work in the United States but am paid to a bank account in Australia, where do I pay income taxes?

I live and work in the US (I am a resident here for tax purposes) I was paid to a bank account in Australia, but don't live there (I'm not a resident in Aus for tax purposes) Where do I pay income ...
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1answer
642 views

Why an inner suburbs small apartment considered a risky investment

Recently I was looking at some properties available in large cities inner suburbs (in this case Sydney and Melbourne). What I found is that there are many small apartments available for rather ...
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1answer
64 views

Capital Gain Tax calculation - Australia

This question is related to Australian CGT. I purchased an off the plan with the intention to move in and live. My situation has changed, moved interstate and the price has gone up by 15%. How do I ...
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1answer
180 views

Buying an investment property in Australia - what are the advantages and disadvantages of building a house vs buying an existing one?

Currently, considering purchasing an investment property. We want it to be a passive investment so don't want to buy anything too old which may need to be fixed up etc. So we are thinking of either ...
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1answer
100 views

Tax implications of share transfer to family member between UK and Australia

What are the tax implications of an Australian residing in Australia working as a director on a board of a small private UK company transferring shares to a family member in Australia. The shares ...
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1answer
133 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 ...
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1answer
253 views

When is a higher return not desireable in a Retirement Fund?

I have been back-testing some share investment strategies for my SMSF (self managed retirement fund) and have narrowed it down to two strategies that have consistently performed the best over a 3 year ...
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2answers
345 views

How much do I ACTUALLY pay when I am going to buy a car?

I am an absolute noob with cars. I have no passion or experience with them, but I acknowledge that they are a great asset for life improvement in general, and I am planning to buy one soon. However, ...
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1answer
103 views

What special rules, if any, need to be followed for US citizens to put money in Australian savings accounts?

From a few recent questions, I have seen that current (as-of Oct 2014) rates on savings accounts in Australia are in the 3.5% ballpark. This is about 30x higher than in the US. What would I, as a US ...
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1answer
114 views

What are my investment options in Australia?

My current bank offers a 3.63% interest rate. I have about $7k in flexible money that I could put in potentially good investments. Right now, I'm only familiar with Term deposits, the stock market, ...
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1answer
207 views

How will the New credit reporting rules affect people who are already struggling financially?

With the new credit reporting rules in place in Australia and the implications of having a black mark against your file for just being 5 days late in making a payment, whether it be credit card or ...
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1answer
121 views

What are the tax ramifications of an Australian citizen purchasing mortgage notes secured by California real estate?

I an an Australian citizen, and I am interested in purchasing mortgage notes secured by California real estate. The payments are tendered monthly. What are the tax ramifications in the US? Is there a ...
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1answer
73 views

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 ...
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1answer
113 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?
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2answers
126 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 ...
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2answers
103 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 ...
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1answer
50 views

What exactly is an Indirect Cost Ratio?

The Australian Superannuation fund I use has no fixed annual fee, no percentage based management fee, and no investment fee. (The fund is EISS - link to their Product Disclosure Statement here) ...
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0answers
100 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 ...
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1answer
36 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'...
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1answer
89 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?
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0answers
65 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 ...
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0answers
62 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 ...
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234 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 ...
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0answers
68 views

Do I need loans for a good credit score? [duplicate]

I've never required legal loans from banks/businesses (eg: home loan, car loan) Will this affect my credit score if i've never been in debt but later on in life decide to get a loan? Edit: Also, ...
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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 ...
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0answers
321 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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1answer
170 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,...
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1answer
901 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 ...
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1answer
552 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.
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42 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 ...
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65 views

Australia tax on different investment asset classes

Within a single financial year, if I make $500,000 from the stock market and I purchase a rental property with that profit, am I taxed when the property is sold (in a future financial year) or is the ...
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2answers
697 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 ...
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2answers
2k views

Which denominations do ANZ Bank ATMs in Australia dispense?

ANZ is one of the major banks in Australia. I can't seem to find on their website or via Google which notes their ATMs dispense. In particular, if I have a balance below $20 will I still be able to ...