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Old Jun 14th 2008 | 9:42 am
  #46  
renth's Avatar
(It's not my real name)
 
Joined: Sep 2002
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From: Ilukapool. WA
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Default Re: enoughs enoughs Im going

Originally Posted by sonlymewalter
Renth...you would be aaaaamazed how many Poms do this.
I'm not really surprised, but I'm also amazed how some people underestimate the ATO.

If people come to Aus permanently and don't declare their UK rental income income, then sell their UK house some time later to buy an Aussie one the ATO will be automatically alerted when the funds come over. That's the point at which they start asking the questions.

Remember, the Aussie tax return asks whether you own assets abroad over $50k. Not ticking that box if you own a UK house is the start of making a rod for your own back down the line.

The ATO have said they are aware of this sort of thing and are going to clamp down.

I return to my original point, no one likes to pay taxes but it's something we all have to do.
 
Old Jun 14th 2008 | 5:46 pm
  #47  
BE Enthusiast
 
Joined: Jan 2006
Posts: 413
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Default Re: enoughs enoughs Im going

Originally Posted by tonychef
no comment

again how can they audit our income form the uk they dont have our adddress in the uk or our bank account nos

i am not tony chef speaking to you tonight but his girlfriend my poor boyfriend is working his second 80 hour week and we are paying all our taxes
and im working here to so we are no tax dodgers
Data matching systems,tax authorities talk to each other.A house leaves a huge paper trail,as does a bank account.

How can you be paying all of your taxes if you are not declaring all of your income?
 
Old Jun 14th 2008 | 7:11 pm
  #48  
sonlymewalter's Avatar
no stressin no fussin....
 
Joined: Aug 2007
Posts: 12,616
From: Fantasy Island....
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Default Re: enoughs enoughs Im going

Originally Posted by renth
I'm not really surprised, but I'm also amazed how some people underestimate the ATO.

If people come to Aus permanently and don't declare their UK rental income income, then sell their UK house some time later to buy an Aussie one the ATO will be automatically alerted when the funds come over. That's the point at which they start asking the questions.

Remember, the Aussie tax return asks whether you own assets abroad over $50k. Not ticking that box if you own a UK house is the start of making a rod for your own back down the line.

The ATO have said they are aware of this sort of thing and are going to clamp down.

I return to my original point, no one likes to pay taxes but it's something we all have to do.
Yep. The banks must declare by lawany money they receive over $10,000 for Tax evasion and money laundering purposes. And as you say, anyone who doesn't declare their assets will not be looked at favorably. Of course, someone could go to UK and collect their money and bring it over by hand [which is covered by the questions on the form you fill in when coming into Aus] ....and there are some ways of transferring money worldwide that bypass the banks i.e va internet. The minute it's collected it is noted for legal reasons and the minute it's deposited in the bank it will be seen and noted - so there's a tight management of this sort of thing once it reaches over $10k.

I'm not sure why some are getting hot under the collar about this. You are only expected to pay one lot of Tax so if you pay UK Tax you will not be charged Aussie Tax and vice versa. So it's really not worth chancing IMV.

As for the former poster mentioning claiming benefits in Aus. Not sure where you got the idea about some Poms being able to claim everything under the sun. As an expat in Aus I can assure you you have more chance of becoming Aussie Primeminister than claiming benefits of any kind over here. Besides, you get nothing for your first 2 years except child Tax benefit if you are within the criteria. As for all other benefits, forget it. Aus is not a nanny state.

Paying Tax all your life in UK does not exclude you having to declare or pay Tax in Aus. Nor does working long hours. The majority of us Expats have done exactly the same as you which is why we managed to get here in the first place. Regardless, good luck with the move.

Last edited by sonlymewalter; Jun 14th 2008 at 7:19 pm.
 

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