tigerlilly

Ok this time I want to know about money tax etc.

When you move to Oz and you are still a British citizen how does the tax system work? i.e. who do you pay taxes to?

Is it advisable to become an australian citizen asap or stay Briitsh?

Also if you have paid NI in Britain all your life are you still entitled to the state pension if you live abroad? And are you still entitled to it if you become an Australian citizen?

Thanks

Wendy

You pay tax in the country you are resident in, citizenship has nothing to do with it and you can't choose which country you pay tax in (some people think they can )

I'll let someone else help with the NI stuff, because there are a few options and I'm not sure of them all.

Geelong Gent

British tax year 6 April to 5 April
Oz tax year 1 July to 30 June
Oz tax rates refer www.ATO.Gov.au

If you are immigrating you become tax resident (nothing to do with PR or type of Visa. Citizen ship or staying British have no advantage or disadvantage) the day you arrive (provided you stay for more than 182 days).

Dont have state pension so cant comment. But the equivalent system here is all employers need to contribute 9% into a "superfund" based on your gross income. At a quick glance today some funds grew by 30% over the last financial year.

Research salary sacrifice under the ATO website - you will best learn by reading up yourself and then if you need further questions post or seek professional advice.

sj oldfield

Also if you have paid NI in Britain all your life are you still entitled to the state pension if you live abroad? And are you still entitled to it if you become an Australian citizen?

Thanks[/QUOTE]


You will recieve a state pension when you reach retirement age. The amount will vary according to your NI contributions, and will freeze on the day you depart the UK. Contact the pension service and request a pension forecast.

tigerlilly

Thanks Guys this is really useful

Neversaynever

You might wish to read this as well (Paying NI whilst Abroad).

http://www.hmrc.gov.uk/pdfs/nico/ni38.pdf