fa kin su pa

If I have a small income of money coming from the UK to Australia each month what is the % of tax that I will have to pay if I also have an income in Australia.

Or if I pay tax on it in the UK will I also have to pay tax in OZ

Many thanks

Cleopatra

Cant answer your question sorry but I just had to say I love your username.

egghead4

i will be interested in this as well, as we are going to have to consider renting and will probably have some left over each month.
bec

Oz Rascal

I'm by no means an expert and would recommend you seek expert financial adice on this, but when I researched this, I'm sure you pay Aus tax on what is left of your profit after you've paid UK tax. For example, if your profit is £100 and you pay £30 of that on UK tax, you would then be charged Aus tax on the £70.

Hope that makes sense (and is correct) - I would defo get prof advice on this one, good luck.

MartinLuther

Sorry but that's not right.

You lump the UK earnings onto your Aussie earnings, calculate the tax, and then subtract the tax already paid to the UK.

In the case you've given, if the Aussie rate is also 30% then you don't pay anymore tax.

If your earnings are simple (like interest) don't bother with an accountant just use e-tax.

Oz Rascal

Don't apologise dude, I said I didn't think it was defo correct, just vague research. Besides, your definition sounds a lot better. Is it the same with regards to CGT?

fa kin su pa

So if I earn about $2500 per 2 weeks in Oz and I earn $500 from the uk what what will I pay in tax

MartinLuther

If your annual income is $65000 (2500*26) and the $500 if for 1 year then you will pay no tax in the UK and Aus tax will be $21,780 (give or take expenses).