a couple of qestions from a newbie
#1
Forum Regular
Thread Starter
Joined: Nov 2008
Location: southampton
Posts: 34
a couple of qestions from a newbie
hi there every one first off all what a great site.Ive been reading it quite a lot recently and it has been very helpfull so thanks for that
Any way the thing is me and my girlfriend sarah are just about to start to apply for our joint skilled visa so we are expecting to be going to oz in just over a year im a fabricator welder and sarah is a charterd accountant so we will be useing her skills as it seems much more straight forward.we are thinking about moving to the sunshine cost but are still undecided as to the work situation as sarah is the main ocupation that we are going to concentrate as im pretty versitile and can turn my hand to most things.so any advice on that would be appreciated.
another question is
we spent ayear in oz in 2003/04 doing the back packer thing so when we arrived we got our tfn number and i got an abn number aswell as i thought i might be doing some subing but that didnt materialise so have never used it
will these numbers still be in use or when we get there will we have to apply for a new one.the reason being that we are thinking of opening an ozzy savings account and i saw on here that you will get charged a serious amount of tax on your savings interest so if we already have our tfn then im assuming we wont.
any help would be appreciated
Any way the thing is me and my girlfriend sarah are just about to start to apply for our joint skilled visa so we are expecting to be going to oz in just over a year im a fabricator welder and sarah is a charterd accountant so we will be useing her skills as it seems much more straight forward.we are thinking about moving to the sunshine cost but are still undecided as to the work situation as sarah is the main ocupation that we are going to concentrate as im pretty versitile and can turn my hand to most things.so any advice on that would be appreciated.
another question is
we spent ayear in oz in 2003/04 doing the back packer thing so when we arrived we got our tfn number and i got an abn number aswell as i thought i might be doing some subing but that didnt materialise so have never used it
will these numbers still be in use or when we get there will we have to apply for a new one.the reason being that we are thinking of opening an ozzy savings account and i saw on here that you will get charged a serious amount of tax on your savings interest so if we already have our tfn then im assuming we wont.
any help would be appreciated
#2
Re: a couple of qestions from a newbie
the numbers will still remain current but how being a non resident affects the tax I dont know
#3
Forum Regular
Joined: Apr 2008
Posts: 174
Re: a couple of qestions from a newbie
you have to get a new TFN, the previous one was only a temp one for the visa you was on (me and partner also did the year travelling oz back in 2004 so had TFN also)
my partner is already in sydney and has had to get a new TFN. (on permanent residency visa)
kelly
my partner is already in sydney and has had to get a new TFN. (on permanent residency visa)
kelly
#4
Forum Regular
Thread Starter
Joined: Nov 2008
Location: southampton
Posts: 34
Re: a couple of qestions from a newbie
thanks for that i suppose it makes sense i assume it will be the same for my abn number aswell
#5
BE Forum Addict
Joined: Oct 2006
Location: Nowhere - I'm a travelling (wo)man!
Posts: 2,362
Re: a couple of qestions from a newbie
Also, you should not provide your TFN to the bank whilst you are a non-resident. Non-residents only have withholding tax of 10% deducted from interest credited to them. This income is exempt from Oz tax so you do not pay any further tax once you reach Oz, although you may have an additional liability in the UK (against which the 10% tax can be set).
If you are a resident and don't provide a TFN the bank will deduct more tax, but you'd get it back at the end of the year when you do your Oz tax return. You'll end up paying tax on your interest at whatever your margin rate is anyway which may be up to 47.5%.
You are lucky to have a chartered accountant girlfriend, it's about the easiest way to get PR in Oz there is!
#6
Guest
Posts: n/a
Re: a couple of qestions from a newbie
Chartered Accountants should be able to get a job almost anywhere.
TFN number and ABN number, should be for life, as they are allocated to your name, and not referenced by Visa type.