"So you own a 3 year old Jag and only earn $20,000 a year - please explain."
Coz at 3years old the service andrepairs would be more than 20 k a year
ta
rolf
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"So you own a 3 year old Jag and only earn $20,000 a year - please explain."
In hindsight, its pretty stupid to buy a $900k house with cash
If you have ever been a resident, then even minor and infrequent visits to Australia can maintain your residence under common law depending on the circumstances.
I'd love to spend a few days in Oz every year to become classified a resident but it won't work. Why are you guys talking like there's some advantage to being non resident? The only benefit I can see is not having to declare rental income from my overseas property. The biggest downside of being non res is that I've lost my tax free threshold and pay 32.5% on the first $80k of income derived in Oz. I made a cap gain last FY and just paid a $57k tax bill last week because I'm non res
Is there a new tax for non residents?In many ways I agree with the new tax for expats. I think where one person works overseas for 6or9 months a year, while the rest of the family lives in oz, and uses all the govt provided services - they should pay tax.
Get a PPOR in Oz. Base your family here ;-)The last time I was in Oz was 2 years ago for a week's visit but apart from the 183 day test how else can they decide if I'm a resident? I spend about 6-8 months of the year in Hong Kong and split the rest of the time between Thailand and Bali. I made the cap gain from selling a property in Oz.
The last time I was in Oz was 2 years ago for a week's visit but apart from the 183 day test how else can they decide if I'm a resident? I spend about 6-8 months of the year in Hong Kong and split the rest of the time between Thailand and Bali. I made the cap gain from selling a property in Oz.
The last time I was in Oz was 2 years ago for a week's visit but apart from the 183 day test how else can they decide if I'm a resident? I spend about 6-8 months of the year in Hong Kong and split the rest of the time between Thailand and Bali. I made the cap gain from selling a property in Oz.
There is no longer a 183 day rule. You may not spend a single day in the country and still be classed as resident. Alternatively you may spend every day in the country and be claimed non-resident (though good luck with that). If your family wife,kids) lives in oz you are resident for tax.
New rules came in 1 July 2009.
If you are a resident for tax purposes all income is taxable in Australia, regardless of where it is earned.
Blacky
You had me going there !
However, to be sure I went back to check s.6(1) ITAA36 and there it still is !
So you have never been a resident before or a double tax agreement deems you solely a resident of another country/countries.
Well then, you don't have to pay Australian tax on your HK/Indonesian/Thai income.
You wouldn't have paid Australian CGT on Australian shares.
You chose to hold taxable Australian property instead.
Did you at least use the apportioned CGT discount ?