Alan Collett

Members1
  • Content count

    61
  • Joined

  • Last visited

  • Days Won

    3

Alan Collett last won the day on July 28

Alan Collett had the most liked content!

Community Reputation

13 Neutral

About Alan Collett

  • Rank
    Member
  • Birthday February 13

Recent Profile Visitors

193 profile views
  1. Are you deriving UK source pension income, Patrick? If not, what drives the need to prepare this form? Best regards.
  2. Watch the forex rules if you put £ funds in an interest bearing savings account. There are ATO Private Rulings that discuss this - while a Private Ruling is specific to the taxpayer that sought it the narrative in a Ruling is a good indication of the ATO's thinking on matters of a technical nature. For example: https://www.ato.gov.au/rba/content/?ffi=/static/rba/content/1012390159609.htm Best regards.
  3. Hi Michael. How old is Mum please? If "aged" (as defined - over 65.5) I would look at visa sub classes 864 and 804. Both of these are onshore visas, so have a Bridging Visa entitlement, but have very different prices, and visa processing timelines. If Mum isn't aged you are probably looking at a subclass 143 visa for Mum. Feel able to send a message to me with your phone number if you would like me to call for a no obligation chat about Mum's visa strategy. Best regards.
  4. Have you lived in the property as your main residence throughout the period in which you have owned it? If so, the sale is exempt from CGT. Best regards.
  5. Hi Erin. I'm sure Andrew will be able to assist you, even though he is in SA. Best regards.
  6. For what type of visa, Paul? Best regards.
  7. Hello Sarah. Until you are aged 55+ you are unable to transfer your UK pension benefits to an Australian superannuation fund - the rules of the game changed a couple of years ago. From a tax perspective it is though likely to be well worth looking at this more fully in a few years from now. A pension drawn from the UK will be taxable in Australia if you are tax resident in Australia at that time. A UK fund that is transferred into an Australian superannuation fund is likely to be accessible in your more senior years on a free of tax basis. Best regards.
  8. Yes, send a blank email to parents@border.gov.au to receive an email advising which visa application lodgment dates for each parent visa subclass are being allocated presently. Best regards.
  9. Not necessarily. The UK now charges CGT on the disposal of a residential property by a non UK resident person. There can also be CGT payable in Australia on the disposal of a former main residence by an Australian resident individual. Whether there is any CGT payable is a factor of each individual's circumstances, which are not sufficiently detailed in the original post. There are also exemptions from the forex gains and losses provisions in Australia, which ought to be explored more fully before concluding there is no foreign exchange gain or loss to be included on an Australian tax return. Best regards..
  10. https://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property Have you completed a Non Resident CGT Return and lodged this with HM Revenue? You have 30 days to do this, whether or not you have realised a capital gain or a loss. Feel able to send a private message to me (click on my name to the left of this post) if you think you might need some assistance with this form. Best regards.
  11. No, it was (broadly) 4 years of residence, of which the last 12 months had to be as a permanent visa holder. See the residence requirements here: https://www.border.gov.au/Trav/Citi/Lear/Law-and-policy/conferral The recently announced changes to the Citizenship Act are yet to pass through the Parliament. Best regards.
  12. Then your UK rental income (after deducting costs that are allowable for Australian tax purposes - including depreciation) is taxable in Australia from the date you become a tax resident. The rental income is also taxable in the UK, but may well be covered by the UK personal allowance, to which you remain entitled. Expect to be required to complete a tax return in both countries. Also Google Non Resident Landlord Scheme. Best regards.
  13. Hello Harry. What subclass of visa do you have? Best regards.
  14. Hi Alphagirl. Unfortunately whoever told you that you simply pay the balance if you adopt the 2 step strategy didn't understand that the overall cost of applying via a 2 step strategy is more than applying for the permanent CPV from the outset. If you are "aged" (as defined - over 65 currently) you might look at a subclass 804 Aged Parent visa. Which isn't free, I hasten to add. Best regards.
  15. Hi Irene. You are very welcome to contact me with a view to a free initial chat about parent visa strategy - feel able to send a PM to me (click on my name to the left of this post). Best regards.