xman

I'm about to apply for spousal visa but intend to keep my buisiness interests in the Uk and return 3-4 x year to the UK for this business.

I have 2 queries if anyone can reate:

1. Does anyone know if AUS places any tax burden on this income earnt in the UK in a UK registered company. Say around 70-100k/yr. Am I allowed to simply transfer as and when?

2. My long term aim is to sell up here and get a small mortgage in Oz. (around 20-25% LTV only) Would they consider my UK company income or just the $ I bring in to Oz? I have 3 years of healthy accounts.

Thank you in advance!

Alfresco

https://www.ato.gov.au/Individuals/I...oreign-income/


https://www.ato.gov.au/Individuals/I...sidency-tests/

Beoz

They will see you as risky. Firstly you earn your income abroad. Mortgage lenders in both the UK and Oz see foreign incomes and investments a risky.

Secondly your income is not stable because of currency fluctuations. That is also seen as risk and has caught many out in the past.

john in oz

As a Broker here - it will come down to what type of visa you have at the time as the main consideration ie whether you are deemed PR, temporary resident or a non resident. As you go down that list then there is more and more restrictions.

It will depend on where your income is being sourced and where tax returns are being lodged as well (combined with your residential status).

On top of this is FIRB restrictions for both temporary and non residents.

Lastly - if your spouse is PR and earning sufficient income then in some cases it is best to do the loan through them as the primary borrower. Some banks will still consider your income and residential status when combined with PR.

I hope that helps.

xman

Wow, its a lot more complicated than I give it credit for! and thank you for this advice, extremely helpful.

Im going for a Subclass 309/100 Spouse Visa. I would like things to be transparent and straight forward as possible, no tax tricks etc.
My spouse is born and bred Australian.
All income sourced and tax returns in Companies House, UK. Although in my business I will create work in Oz for myself.

I could easily increase income for my spouse from the UK business but it would mean her being in Oz while working which may be considered AUS taxable and also carries the risk that Boez above mentions. I think I will need some professional advice when the time is ready...or I guess be mortgage free (in a dream world!).

Beoz

It's not impossible, its all able minimising risk and demonstrating that to the lender. I have tried it in reverse in the past. I thought I finally found a broker in the UK who seemed pretty confident that they could find me a UK mortgage while earning $A. First criteria was to lay down a 50% mortgage which was no problem. Second criteria was to show we could earn the equivalent of 800,000 pounds per year. Well that aint going to happen. What was even more strange was that I wanted to borrow 200,000 pounds. Not a huge amount. If we were on 800,000 pounds per year I wouldn't need a mortgage.

Probably best to wait until you are established in Oz anyway. Less of a flight risk. You can start earning local income. Husband could look at opening a small company locally. Prices seem to be coming down anyway so best to hold off rather than paying top dollar.