BandS

Does anybody know what the taxation rules are if you still have income from the UK. Do the UK Revenue tax you directly or is this income taken into account when paying Oz income tax ?

Is there a good web site which explains this ?

Terry

you can apply to inland revenue to have income paid without tax deducted, and your tax liability will be in australia at what ever rate you may be on. In Oz the rate can be as high as 47c for each $1 over $60,000....ouch!

Terry

Terry

just noticed the rate for 2004 is from $62,500
look at ato web site and inland revenue for more info

Terry

Grayling

Hi
There is a 'double taxation' agreement between the two countries.
This means that you will get tax credits from the UK and only have to pay tax in one country.
You will have to apply for it though.
Not sure of the UK tax site but there may be some info. on the Australian one:

http://www.ato.gov.au

Good luck

G

ABCDiamond

This site may be useful.
ATO - International Tax essentials

also

ATO - Entering the Australian Tax System

and
ATO - How to claim a foreign tax credit

Alan Collett

It depends on the nature of the income. Inland Revenue booklet IR20 explains this issue:
http://www.inlandrevenue.gov.uk/pdfs/ir20.htm

Where income has suffered tax in the UK you can usually claim a credit for that tax when computing your net liability to the ATO - pension income from the UK being an exception from this rule (pension income paid from the UK is wholly assessable in Australia if you are tax resident there when the income is paid under the UK-Australia Tax Treaty; any tax deducted from a UK source pension in these circumstances should be reclaimed from the IR by completing the relevant forms).

One or more of the free tax factsheets available here might also be of interest:
http://www.collettandco.co.uk/factsheet.cfm

Best regards.