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Search: Posts Made By: jumbo
Showing results 1 to 25 of 150
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Forum: Australia
Aug 25th 2006, 8:12 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Alan there is no dispute about what a cgt asset is in the ITA just whether you should pay cgt on transfers! Your post and many others implies that you should.

Have you vere paid cgt on your own...
Forum: Australia
Aug 23rd 2006, 12:18 pm
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Just sent you a PM

Regards
Forum: Australia
Aug 22nd 2006, 9:09 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

I spent 50 minutes on the phone to ATO about transfer of money from UK to Australia this morning. I was prompted by Alan's last comment and wanted to get to the bottom of this and get it right once...
Forum: Australia
Aug 21st 2006, 11:13 pm
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

I agree with that but you notice in MartinLuthers request for a private ruling about the definition of "private or domestic nature" that the ATO would not answer the question but came up with the...
Forum: Australia
Aug 21st 2006, 8:57 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Nowhere is private or domestic nature defined in ITA 97. Therefore I am taking what the ATO said to me about its definition: being your own money and not business related and not therefore taxable. ...
Forum: Australia
Aug 17th 2006, 12:31 am
Replies: 12
Views: 773
Posted By jumbo

Re: Easy Pension transfer

It took a few weeks overall but that included sending out the Inland Revenue form and returning etc. I think this accounted for most of the delay which would not be expected for a straight personal...
Forum: Australia
Aug 16th 2006, 10:14 am
Replies: 12
Views: 773
Posted By jumbo

Easy Pension transfer

I have just transferred my Standard Life UK personal pension to my smsf. I have to say that the process was very simple, easy and straightforward especially compared to the pension transfers I made...
Forum: Australia
Aug 2nd 2006, 9:55 am
Replies: 10
Views: 501
Posted By jumbo

Re: Calling all plummbers.

I have to say that as an avid ex UK diy Plumber the Australian methods are very different to those in the UK. My feeling so far is that the Australian system is designed to keep plumbers fully...
Forum: Australia
Aug 2nd 2006, 9:49 am
Replies: 32
Views: 2,856
Posted By jumbo

Re: UK State pension in Oz

If you did not opt out of SERPS your SERPS component would be frozen also! So you could not win either way. The only slight win on my situation is that I had some of my SERPS contributions directed...
Forum: Australia
Jun 23rd 2006, 2:24 am
Replies: 93
Views: 23,213
Posted By jumbo

Re: QROPS Pensions

No I did it all myself. I'm sure that you can do the same if you do the research etc.

Good Luck

Regards
Forum: Australia
Jun 21st 2006, 10:57 pm
Replies: 93
Views: 23,213
Posted By jumbo

Re: QROPS Pensions

That is exactly what I have done. But be warned it took a lot of hard work because it was breaking new ground and needed educating people both in the UK and Australia that it could be done and...
Forum: Australia
Jun 21st 2006, 8:44 am
Replies: 93
Views: 23,213
Posted By jumbo

Re: QROPS Pensions

They are also incorrect about having to have left the UK etc. This is another of the "simplifications" of the new UK pension regime.

Regards
Forum: Australia
Jun 21st 2006, 8:42 am
Replies: 93
Views: 23,213
Posted By jumbo

Re: QROPS Pensions

Hi Netta

AMP are incorrect when they say you should be employed or self-employed. This used to be the case before April (a UK HMRC requirement but no longer)
Forum: Australia
May 11th 2006, 2:26 am
Replies: 4
Views: 741
Posted By jumbo

Re: UK Pensions and Transfers to Australia - an update ...

I can confirm what Alan says as I have already received QROPS approval from HMRC for my smsf (diy super fund)

Regards
Forum: Australia
May 8th 2006, 12:26 am
Replies: 2
Views: 1,490
Posted By jumbo

Qrops

For anyone who is interested my superannuation fund has achieved QROPS status with a letter received from HMRC on Friday. It was no big deal to get it either!

Regards
Forum: Australia
May 5th 2006, 9:35 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Alan

I had thought you wanted this one to rest.

However if someone delays transferring cash or moves it gradually like myself they are more likely to be waiting not to so much to make again...
Forum: Australia
May 3rd 2006, 12:22 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

I agree. There is nothing else to say.

Best Regards
Forum: Australia
May 2nd 2006, 9:42 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

I appreciate the dilemma. But in this situation I am surprised that you tell people that they can claim a tax loss on exchange or pay tax on a gain when you cannot say this is a fact!

Regards
Forum: Australia
May 1st 2006, 11:49 pm
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Its not just in the taxpac but also in the ITA refs I gave.

I have learned that in Australia nobody is sure about many financial points. Different advisers (who often don't know) then get...
Forum: Australia
May 1st 2006, 9:49 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

Alan

Thanks for your response. I do accept all your comments about the ATO. We have corresponded on this since before I became Oz tax resident and I believe I finally have the answer.

I have...
Forum: Australia
Apr 29th 2006, 7:39 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

You cant be serious. Do you think the ATO is wrong about this?

Regards
Forum: Australia
Apr 28th 2006, 7:43 am
Replies: 80
Views: 6,283
Posted By jumbo

Re: Tax on funds transfered after you move

I have also been confused by these two schools of thought. I recently contacted the ATO and finally got put through to “special skill set 3a department” (I think that was the name). There I got a...
Forum: Australia
Apr 17th 2006, 12:40 am
Replies: 28
Views: 3,478
Posted By jumbo

Re: UK Pension transfers and new rules

If you have final salary pension schemes I doubt that it would be worth transferring them anyway.

Regards
Forum: Australia
Apr 14th 2006, 6:42 am
Replies: 28
Views: 3,478
Posted By jumbo

Re: UK Pension transfers and new rules

No because there may be some countries (offshore like IoM?) where you can have a pension scheme without being tax resident.

I'm only reporting the new rules and not responsible for them or the...
Forum: Australia
Apr 13th 2006, 9:00 am
Replies: 28
Views: 3,478
Posted By jumbo

Re: UK Pension transfers and new rules

No because you would have to be tax resident in Australia to have a super scheme to transfer to.

Regards
jumbo
Showing results 1 to 25 of 150
 
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