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Old Nov 30th 2017, 11:25 am   #1
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Default Anyone know a good tax advisor in Australia?

Hi everyone, I am looking for some advice. I am a 72 year-old UK expat and Australian citizen living in Sydney. My income derives from a) my UK company pension, b) my UK state pension (both paid in sterling to my UK bank), and c) my Super/pension in Australia.

My wealth is predominantly in my Australian Super/Pension fund (approx 95%), which survives my death, and the remainder which is in my UK bank account and UK Premium Bonds. My UK pensions die with me.

I pay tax on all my income, including my UK pensions, in Australia.

I have 1 daughter (46) who lives in Devon, UK.

After small bequests to my 5 step grandsons, I would like to leave the remainder to my daughter.

My questions are:

A) How do I set this up in the most tax-efficient manner?

B) Is there anyone reading this who has a similar experience and has taken action to make it work? Can you recommend anyone for professional advice?

C) Are there any tax experts reading this who have expertise in the UK/Australian tax regimes and how they impact each other?

Thanks for reading this far.
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Old Nov 30th 2017, 1:12 pm   #2
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Default Re: Anyone know a good tax advisor in Australia?

Quote:
Originally Posted by Dogmarsh View Post
Hi everyone, I am looking for some advice. I am a 72 year-old UK expat and Australian citizen living in Sydney. My income derives from a) my UK company pension, b) my UK state pension (both paid in sterling to my UK bank), and c) my Super/pension in Australia.

My wealth is predominantly in my Australian Super/Pension fund (approx 95%), which survives my death, and the remainder which is in my UK bank account and UK Premium Bonds. My UK pensions die with me.

I pay tax on all my income, including my UK pensions, in Australia.

I have 1 daughter (46) who lives in Devon, UK.

After small bequests to my 5 step grandsons, I would like to leave the remainder to my daughter.

My questions are:

A) How do I set this up in the most tax-efficient manner?

B) Is there anyone reading this who has a similar experience and has taken action to make it work? Can you recommend anyone for professional advice?

C) Are there any tax experts reading this who have expertise in the UK/Australian tax regimes and how they impact each other?

Thanks for reading this far.
Alan Collet from Go Matilda is highly recommended, he is well versed in taxation matters in both countries.
https://www.gomatilda.com/
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Old Nov 30th 2017, 8:12 pm   #3
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Default Re: Anyone know a good tax advisor in Australia?

Thanks Pollyana. I have sent Go Matilda an enquiry and will see what happens next. Thanks for your help.
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Old Nov 30th 2017, 8:54 pm   #4
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Default Re: Anyone know a good tax advisor in Australia?

Can't help with your questions, but just in case you haven't done this already - you can add a beneficiary's name to your superannuation/pension fund, although this is apparently not binding unless you also include this clause in your Will.
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Old Dec 1st 2017, 12:55 pm   #5
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Default Re: Anyone know a good tax advisor in Australia?

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Originally Posted by spouse of scouse View Post
Can't help with your questions, but just in case you haven't done this already - you can add a beneficiary's name to your superannuation/pension fund, although this is apparently not binding unless you also include this clause in your Will.
Thanks for emphasising this. In fact I already have my daughter as my beneficiary of the super fund, and I am planning to include it in my will.

Cheers.
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