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Search: Posts Made By: Alan Collett
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Forum: Australia
Feb 20th 2021, 9:07 pm
Replies: 1
Views: 440
Posted By Alan Collett

Re: 188 Visa processing times

We're having UK based cases assessed now that were submitted in December. So 14 months from lodgment to assessment - then time to do medicals, gather additional documents, etc.

So probably not...
Feb 20th 2021, 9:00 pm
Replies: 12
Views: 1,082
Posted By Alan Collett

Ayay’s questions about age limit for skilled immigration

From what you have said I fear your skilled visa prospects are not good.

Best regards.
Forum: Australia
Nov 29th 2020, 1:06 am
Replies: 2
Views: 1,345
Posted By Alan Collett

Re: Want Mum to fly to Aus from UK

Hi Ren.

As things stand she can't get to Australia.

Would you consider traveling to the UK?

Best regards.
Nov 9th 2020, 8:19 am
Replies: 2
Views: 712
Posted By Alan Collett

Re: Switching from 103 to 804 parents visa

Hi Sam.

Your parents will go to the back of the queue if they now apply for an 804 visa application.

Note that if your parents applied for a 103 visa in May 2012 it is unlikely they have a...
Forum: Australia
Sep 13th 2020, 9:27 am
Replies: 0
Views: 675
Posted By Alan Collett

Deadline approaching for lodging 2020 personal tax returns in Australia

A quick reminder - particularly for those who have moved to Australia since the 1st of July 2019 - that those individuals who are required to submit a tax return with the Australian Tax Office have...
Forum: Australia
Aug 15th 2020, 7:04 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

I would have a conversation with your pension fund administrators regarding the 25% lump sum.

You need to ascertain the Applicable Fund Earnings component in the lump sum for Aus tax purposes.
...
Forum: Australia
Aug 14th 2020, 6:16 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

You may need to seek a NT (No Tax) PAYE Coding under the Tax Treaty provisions.

However. ... what has the UK pension fund administrator said about deducting tax from the 25% lump sum? Are they...
Forum: Australia
Aug 14th 2020, 5:38 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

Respectfully, that's a tad harsh.

There are many who think they are well informed who disparage professional advice and for whom a little knowledge is a dangerous thing.

You may contend I have...
Forum: Australia
Aug 14th 2020, 2:57 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

That's fair enough.

If you're comfortable and have done your due diligence there's nothing more I can usefully add.

Best regards.
Forum: Australia
Aug 14th 2020, 2:48 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

I'm not sure about those numbers, but I don't have visibility of what has been presented to you.

I anticipate that you know your 25% lump sum and income stream are likely to have tax consequences...
Forum: Australia
Aug 14th 2020, 2:36 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

FWIW the valuation of defined benefits schemes is relatively high presently given the discounting of the pension to a lump sum at a relatively low interest rate.

I hasten to add that I appreciate...
Forum: Australia
Aug 14th 2020, 2:32 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

As you are well informed ... what options do you now have in Australia for the transferring of your UK pension benefits?

And what are the tax consequences of transferring a UK scheme to Australia?...
Forum: Australia
Aug 14th 2020, 2:06 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

A lot has changed since you moved your pension fund to Australia ... as you have noted.

Transferring a UK scheme to an Australian super fund is not as available as it used to be.

And you need...
Forum: Australia
Aug 13th 2020, 2:56 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

Please - take professional advice.

The tax at stake - and that can be saved with good advice - can be significant.

Best regards.
Forum: Australia
Aug 9th 2020, 11:54 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

Noted - this highlights the difference between the taxation of a lump sum and the taxation of an income stream.

Best regards.
Forum: Australia
Aug 9th 2020, 9:00 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

Maybe send a PM to me with your mobile number (click on my name to the left of this post)?

Otherwise you can reach me through any of our office numbers; if you do this say to the receptionist that...
Forum: Australia
Aug 9th 2020, 8:48 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

OK - thanks.

Is likely the taxable income in Australia is equal to the Applicable Fund Earnings (AFEs) attributable to the £12k.

Speak soon!

Best regards.
Forum: Australia
Aug 9th 2020, 8:37 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

PS. Feel able to contact me at bdh Tax if you would like a freebie high level chat.

Best regards.
Forum: Australia
Aug 9th 2020, 8:36 am
Replies: 13
Views: 2,010
Posted By Alan Collett

Re: UK private pension

I hope they have good PII ... :rofl:

Your liability to tax in Australia is likely to be driven by your residency status, and whether the amount drawn - ie the $12k - is considered to be a lump sum...
Forum: Australia
Aug 9th 2020, 2:53 am
Replies: 8
Views: 1,279
Posted By Alan Collett

Re: First time tax return - foreign income

Remember also that:

* Having an Australian spouse or partner overrules the temporary resident exemptions.
* Income earned overseas remains taxable in Australia while tax resident in...
Forum: Australia
Jul 23rd 2020, 6:07 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

How many years ago?

Best regards.
Forum: Australia
Jul 19th 2020, 11:33 pm
Replies: 8
Views: 1,279
Posted By Alan Collett

Re: First time tax return - foreign income

FYI there's no need to include a FITO - the target foreign income amount is info gathering for Centrelink purposes.

Feel able to ping a PM to me if you think you might need help with the...
Forum: Australia
Jul 18th 2020, 11:58 pm
Replies: 8
Views: 1,279
Posted By Alan Collett

Re: First time tax return - foreign income

I thunk you may find such income is to be disclosed as target foreign income.

Such income is not taxable, but is to be disclosed.

Best regards.
Forum: Australia
Jun 10th 2020, 12:04 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

What if the cost of the advice is somewhat less than the financial gain resulting from a transfer of your pension benefits to Australia?

Best regards.
Forum: Australia
Jun 8th 2020, 2:45 am
Replies: 44
Views: 7,975
Posted By Alan Collett

Re: UK pension transfer

I've sent a PM to you.

Best regards.
Showing results 1 to 25 of 1000
 


 
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