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Need some help!!!
I wonder if any of you could help me with my dilemma...
I work for Teletext in London and will be leaving my job next week. However, they have offered me to do some freelance work for them in Brisbane when I get there for the rugby World Cup. The work will be for 20 days in November My question is, basically, what it means tax-wise? I will be working for an English company but in Australia, but won't be a resident in England, but in Australia. Does that mean I have to pay income tax for England and Australia?? I just don't know. I was going to contact an advisor, but just wondered if any of you guys out there have been in a similar position. Any help would be greatly appreciated - my brain is starting to hurt! Thanks, Gavin |
Sorry I can't help, but it seems like a job to die for!! You lucky thing getting to take photos of the World cup and getting paid for it!
Hope it all works out for you. |
Re: Need some help!!!
Originally posted by Gavin B I wonder if any of you could help me with my dilemma... I work for Teletext in London and will be leaving my job next week. However, they have offered me to do some freelance work for them in Brisbane when I get there for the rugby World Cup. The work will be for 20 days in November My question is, basically, what it means tax-wise? I will be working for an English company but in Australia, but won't be a resident in England, but in Australia. Does that mean I have to pay income tax for England and Australia?? I just don't know. I was going to contact an advisor, but just wondered if any of you guys out there have been in a similar position. Any help would be greatly appreciated - my brain is starting to hurt! Thanks, Gavin Dunno if you can earn money in one country but have it taxed in another, if you can then I guess the Simplest (legal) way would be for BBC to pay you into your Oz bank account, then you declare it to Oz authorities. A good 'dodge' would be to invoice under false company name from Oz and not bother decaring it at all ! Gotta be unlikely the UK Inland Revenue checking the accountancy details of an off shore company isn't it ? someone ? |
Get them to pay you into your bank a/c in the uk, then do a tax return to get your tax back.
What sort of VISA are you on? You may not yet be a permenant resident of oz for 2 years from arrival (thats my visa anyway). |
Thanks for the advice guys.
I've got a two-year temporary residency through my wife. I just don't want to risk anything at the end of the two years when they assess you for a permanent five-year residency and I might not have declared tax at the start, which they might look down upon. I do like the sound of that off-shore account though! |
Re: Need some help!!!
Leaving aside the illegality of the third paragraph, once you are tax resident in Australia your worldwide income is assessable, irrespective of where you are paid.
Note that tax resident in Australia is not the same as being a permanent resident of Australia - you can be tax resident as the holder of a temporary residency visa. The question as to whether your UK source income is also taxable in the UK depends on the nature of the income, but even if you do pay tax in the UK you should obtain credit for tax already paid when computing your net Aussie tax bill. Best regards. Originally posted by sydneybound I'm in a (vaguely) similar kinda boat cos I'm renting out a coupla flats in the UK and declaring the income in the UK, but also plan on getting a job in Oz. I spoke to my accountant and he informed me that Cash originating from the UK is taxed in the UK, Cash originating from in Oz is taxed in Oz. Dunno if you can earn money in one country but have it taxed in another, if you can then I guess the Simplest (legal) way would be for BBC to pay you into your Oz bank account, then you declare it to Oz authorities. A good 'dodge' would be to invoice under false company name from Oz and not bother decaring it at all ! Gotta be unlikely the UK Inland Revenue checking the accountancy details of an off shore company isn't it ? someone ? |
Re: Need some help!!!
Gavin,
I would send the UK company an invoice for your fee. You should then include this income (and related deductions) on your 2004 Aussie Tax Return. Given that you have left the UK permanently you will claim "split year treatment" for income tax purposes, which means that any earned income arising after your departure from the UK is not taxable in the UK under an Inland Revenue concession. Best regards. Originally posted by Gavin B I wonder if any of you could help me with my dilemma... I work for Teletext in London and will be leaving my job next week. However, they have offered me to do some freelance work for them in Brisbane when I get there for the rugby World Cup. The work will be for 20 days in November My question is, basically, what it means tax-wise? I will be working for an English company but in Australia, but won't be a resident in England, but in Australia. Does that mean I have to pay income tax for England and Australia?? I just don't know. I was going to contact an advisor, but just wondered if any of you guys out there have been in a similar position. Any help would be greatly appreciated - my brain is starting to hurt! Thanks, Gavin |
Alan,
That's fantastic help, thank you. If I could just ask more quick question: When I invoice my company, is there any difference if I get the money paid into an English bank account or an Australian one? Thanks again, Gavin |
From your tax perspective, no, as in the case of what amount to self employment income your liability to tax is based on your tax residency, not where you receive the income.
Practically though, I'd ask the UK company to remit your fee to the bank account and in the currency that suits you best so that you don't have to incur bank charges if (say) they pay you in the UK when you want the funds in Australia. Hope this helps. Originally posted by Gavin B Alan, That's fantastic help, thank you. If I could just ask more quick question: When I invoice my company, is there any difference if I get the money paid into an English bank account or an Australian one? Thanks again, Gavin |
Re: Need some help!!!
Originally posted by Alan Collett Gavin, I would send the UK company an invoice for your fee. You should then include this income (and related deductions) on your 2004 Aussie Tax Return. Given that you have left the UK permanently you will claim "split year treatment" for income tax purposes, which means that any earned income arising after your departure from the UK is not taxable in the UK under an Inland Revenue concession. Best regards. |
Thanks Alan, that really is a great help. Much appreciated.
Gavin |
Try www.ato.gov.au for the tax office.
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