Do you worry about raising your kids in the UK?
#451
Forum Regular
Joined: Jul 2007
Posts: 136
Re: Do you worry about raising your kids in the UK?
I don't know really most people we know seem to have money enough to pay bills,mortgage, food etc and not much left over.....same old,same old really wherever you live but when I look around not many of our friends have the money left over to book two weeks away from W.A for holidays etc...or even treat themselves to bying clothes from the "nicer" shops......etc
I do think that here one is able to get the tax system to work to your advantage though if you are smart about your tax return. I have found that heaps of things can be written off to tax here that one could never do in the UK. There are so many things that one is able to claim if you are working and smart about how you submit your return. I have known people to completely offset their medicare levy through this and in many cases end up receiving payouts each year.
#452
Homebody
Joined: Jan 2005
Location: HOME
Posts: 23,181
Re: Do you worry about raising your kids in the UK?
....I do think that here one is able to get the tax system to work to your advantage though if you are smart about your tax return. I have found that heaps of things can be written off to tax here that one could never do in the UK. There are so many things that one is able to claim if you are working and smart about how you submit your return...........
Why should hard-working people who are not particularly clued up about the intricacies of the tax system be at a disadvantage?
I also prefer to spend my time doing something other than trying to find yet another tax loophole.
#453
Re: Do you worry about raising your kids in the UK?
I do think that here one is able to get the tax system to work to your advantage though if you are smart about your tax return. I have found that heaps of things can be written off to tax here that one could never do in the UK. There are so many things that one is able to claim if you are working and smart about how you submit your return. I have known people to completely offset their medicare levy through this and in many cases end up receiving payouts each year.
#454
Forum Regular
Joined: Jul 2007
Posts: 136
Re: Do you worry about raising your kids in the UK?
Personally I prefer a tax system which is equitable and doesn't require people to be 'smart' (whatever that means) in writing off things.
Why should hard-working people who are not particularly clued up about the intricacies of the tax system be at a disadvantage?
I also prefer to spend my time doing something other than trying to find yet another tax loophole.
Why should hard-working people who are not particularly clued up about the intricacies of the tax system be at a disadvantage?
I also prefer to spend my time doing something other than trying to find yet another tax loophole.
Go speak to your good accountants about this (can all be done in an online assesment BTW).. I unfortunately have other things to do with my day than to help you with your tax return. Good luck
#456
Re: Do you worry about raising your kids in the UK?
point taken, but it does not require a phd. Also means that ordinary working people - not self-employed) have the chance to claim back things that they could not in other tax systems. Lets everyone have an equal go at getting something back.I know of people from bankers all the way down to labourers who are doing this within the law..
Go speak to your good accountants about this (can all be done in an online assesment BTW).. I unfortunately have other things to do with my day than to help you with your tax return. Good luck
Go speak to your good accountants about this (can all be done in an online assesment BTW).. I unfortunately have other things to do with my day than to help you with your tax return. Good luck
#457
Re: Do you worry about raising your kids in the UK?
One thing I do like is that you can claim child care against tax which when I worked full time in the UK you were unable to do. Things may have changed now mind.
#458
Re: Do you worry about raising your kids in the UK?
I am confused by this. My Oh worked for himself for a good few years both here in Oz and the UK, we also have/had good accountants. So far, we haven't come across anything lawful that we can offset here that we couldn't in the UK. So, could you enlarge upon what you have just posted?
The deductions on company cars/vehicles are much more generous in Aus. All forms of client/staff entertainment (like xmas parties, lunches with clients etc) are non-claimable in UK, whereas they are here. If you work from your place of residence, you can claim for that part of the house and the associated part of bills, like heating etc. (you will tho have to pay CG on that part of the house if you sell it).
They're just the ones I can think of off the top of my head. Accountants can show you how to claim the max, and their fees are deductible too I believe, so you won't be too much out of pocket for the extra advice.
*Disclaimer* some of the above may be incorrect, my tax knowledge is very basic!
#459
Re: Do you worry about raising your kids in the UK?
This was absolutely invaluable to me when I was a single parent with two little ones to support, and is absolutely brilliant. However, once your household income is over about $80k a year you get nada.
#460
Re: Do you worry about raising your kids in the UK?
I don't understand this; 3 years ago when we came to Oz we got $2.45 for each UK Pound; yesterday the commercial rate (mere mortals get worse) was $2.17 for each Pound. Doesn't this suggest the Oz economy is better or forecast to be better?
I've been waiting for the rate to Yo-Yo back up as I still have some cash in the UK to bring over but at this rate the Pound will soon only be worth $2
I've been waiting for the rate to Yo-Yo back up as I still have some cash in the UK to bring over but at this rate the Pound will soon only be worth $2
#461
Re: Do you worry about raising your kids in the UK?
Personally I prefer a tax system which is equitable and doesn't require people to be 'smart' (whatever that means) in writing off things.
Why should hard-working people who are not particularly clued up about the intricacies of the tax system be at a disadvantage?
I also prefer to spend my time doing something other than trying to find yet another tax loophole.
Why should hard-working people who are not particularly clued up about the intricacies of the tax system be at a disadvantage?
I also prefer to spend my time doing something other than trying to find yet another tax loophole.
#462
Forum Regular
Joined: Jul 2007
Posts: 136
Re: Do you worry about raising your kids in the UK?
I'm not that flash with tax and so on, but last time I went back to Uk and was talking to my mum's husband (a business owner) about what my OH (also a business owner in Aus) can write off in tax, there seemed to be quite a few.
The deductions on company cars/vehicles are much more generous in Aus. All forms of client/staff entertainment (like xmas parties, lunches with clients etc) are non-claimable in UK, whereas they are here. If you work from your place of residence, you can claim for that part of the house and the associated part of bills, like heating etc. (you will tho have to pay CG on that part of the house if you sell it).
They're just the ones I can think of off the top of my head. Accountants can show you how to claim the max, and their fees are deductible too I believe, so you won't be too much out of pocket for the extra advice.
*Disclaimer* some of the above may be incorrect, my tax knowledge is very basic!
The deductions on company cars/vehicles are much more generous in Aus. All forms of client/staff entertainment (like xmas parties, lunches with clients etc) are non-claimable in UK, whereas they are here. If you work from your place of residence, you can claim for that part of the house and the associated part of bills, like heating etc. (you will tho have to pay CG on that part of the house if you sell it).
They're just the ones I can think of off the top of my head. Accountants can show you how to claim the max, and their fees are deductible too I believe, so you won't be too much out of pocket for the extra advice.
*Disclaimer* some of the above may be incorrect, my tax knowledge is very basic!
#463
Re: Do you worry about raising your kids in the UK?
All very good examples- I for instance know people who are claiming Foxtel as they need the Bloomberg channel to watch the stock market.. Little things like that make all the difference. Clothes, internet, sunnies and buggie smugglers even are all tax deductable in the correct industry. Heck even strippers in Oz can write off the cost of their outfits and lingerie as part of uniforms..
#464
Forum Regular
Joined: Mar 2007
Location: Life is like a box of chocolates......you never know what you're gonna get!! (Fforest Gump!)
Posts: 231
Re: Do you worry about raising your kids in the UK?
That's something that would NEVER happen in the UK!!!
My OH has worked as an accountant for 24 years in the UK and having been working here in WA for only a few months is astonished at what companies, self employed and even working individuals can claim for that either were never allowed or have since been disallowed in the UK...
He is also surprised at the lengths the rich (and some not so rich) go to to reduce their tax bills such as setting up numerous trusts and superannuation funds etc.....I personally find it all very complicated and so leave it to him!!
I think getting a good accountant over here is the key......
BTW you could claim use of home, certain vehicle expenses, accountancy fees and some (although VERY limited) entertainment expenses in the UK..
My OH has worked as an accountant for 24 years in the UK and having been working here in WA for only a few months is astonished at what companies, self employed and even working individuals can claim for that either were never allowed or have since been disallowed in the UK...
He is also surprised at the lengths the rich (and some not so rich) go to to reduce their tax bills such as setting up numerous trusts and superannuation funds etc.....I personally find it all very complicated and so leave it to him!!
I think getting a good accountant over here is the key......
BTW you could claim use of home, certain vehicle expenses, accountancy fees and some (although VERY limited) entertainment expenses in the UK..
#465
Banned
Joined: Dec 2007
Posts: 172
Re: Do you worry about raising your kids in the UK?
My thoughts, he is South African though.
Last edited by guest5234; Jan 16th 2008 at 7:58 am.