Australia PR

[seianko]

Ultilities:

eh....unless that person switches air-con heater 24-7 elseon the avergae u can ask ur frds their utlities bills it is abt the same...in sg HA, i can share with u sth,
my house hv 5 ppl. 100 sgd mthly.....my frd 3 ppl 400 sgdpm. u tell me,,....

i always HAVE to keep close check on my sg bills cos Pub chargaes is GENG. i catch them few times le. 1 whole mth v minimal cooking, or 1 full week holis....my bills can be as high if not higher than prev mths .... and i hv to call them up for questioning. in melb i NEVER hv to deal with this.

their service charge is 1 time off per bill. ( I use origin) sg is charge Per mth.
utilities bills is charge every 3 mths.

telco bills is EX....if u dun own a plan...or u own a low end plan basically u'll pay 1 aud=1 min talk time.

Beers chep.... 1 JUG 10 bux.....

 

[patryn33]

I am not gd wif their tax, am meetin a finacial planner from aus for 1st time free consultation. BUT there is a general way of accounting their tax system which can be found in internet. I dun wan to comment on their tax cos it is v complicated according to a frd doing CPA. I do sorta knw sth but sorta is not v v confident so i dun wan to misled ppl over here....their tax can be as high as 45%-50% i THINK...

progressive tax system like many Ang Mo countries.
Never expect it to be as high as 45-50% lah.
Don't think they do province tax in OZ, so can't be as complex like US.
300K place in Melb suburb?

without tax exemption from other areas 70k tax is hmm... do some math here
0-6K = 0
$6,001 – $34,000 = 3471.876
$34,001 – $70,000 = 4200 + 10799.7
total = 18471.576 or 26.38%
Need to do correction here. so wrong, the number is smaller! 14999.7 is the total amount paid or 21.5%! sorry to misled ppl, a 5% tax is alot!!!

even in SG most ppl income tax range around 5%.

Ang Mo country, every kind of housing is free holding lah.. nothing special also. since U live far far, if need to drive long long daily, it will be pretty costly then.
big house like this CHIO man!!!
http://www.realestate.com.au/cgi-bi...r=&cc=&c=17995345&s=vic&snf=rbs&tm=1241637618
housing loan, can give a general idea? can get 30yr or 15yrs fix at X%? I gather if U pay 5% down the rest will be under 1 loan right?

Food seem cheap.. but can't really tell when U say a box or a tray of XYZ. 1 box can mean 15cm cube or 300cm cube. I get a better understand when I see grams/kg.

getting driving license in Ang Mo countries always easier and cheaper.
heard that from frens in UK/Canada/Netherlands/NZ/OZ.
I guess its only harder in countries like SG and Japan.. LOL.. limited land

OZ toto also bigger cash pot! AUD$20M!!!
http://www.ozlotteries.com/

 

[patryn33]

Ultilities:

eh....unless that person switches air-con heater 24-7 elseon the avergae u can ask ur frds their utlities bills it is abt the same...in sg HA, i can share with u sth,
my house hv 5 ppl. 100 sgd mthly.....my frd 3 ppl 400 sgdpm. u tell me,,....

i always HAVE to keep close check on my sg bills cos Pub chargaes is GENG. i catch them few times le. 1 whole mth v minimal cooking, or 1 full week holis....my bills can be as high if not higher than prev mths .... and i hv to call them up for questioning. in melb i NEVER hv to deal with this.

their service charge is 1 time off per bill. ( I use origin) sg is charge Per mth.
utilities bills is charge every 3 mths.
.

regarding PUB so its their fault? refund U $$?
if so... that is RED Flag man.. never look at the bill closely...
must ALERT ppl man.. need to check closely from today!

in that case isn't service charges about the same deal?
SG bill U every mth of course charge GST mthly..
OZ bill come every 3mth, of course charge 1 time per bill, if compound interest U would have complain liao.. LOL

how to compare your family against other family bill... so what ur family is 5ppl, others is 3.
different family different usage what.
its kinda comparing $$ spend on makan. not real fair.
but the GENG part certainly needs highlighting!!!!

 

[seianko]

regarding PUB so its their fault? refund U $$?
if so... that is RED Flag man.. never look at the bill closely...
must ALERT ppl man.. need to check closely from today!

in that case isn't service charges about the same deal?
SG bill U every mth of course charge GST mthly..
OZ bill come every 3mth, of course charge 1 time per bill, if compound interest U would have complain liao.. LOL

how to compare your family against other family bill... so what ur family is 5ppl, others is 3.
different family different usage what.
its kinda comparing $$ spend on makan. not real fair.
but the GENG part certainly needs highlighting!!!!

i compare as same numbers of head in the family.

In aust, i dun really switch on alot of heater. my frd does...but our bill difference is quite slight.
In sing, i dun switch in AC, my frd does...the big difference u can see.

I dun mean GST. i mean utilities service charges. PUB charge u like 25 sgd per mth. but my origin bills is charge 25-30 aud per BIll that comes every 3 mths.

In sg, before u used any pgas pwr, water, u r charge with tax. like water, u r charged with 30% tax even if u dun use. In aust, for electricity n gas, they charge the tax as per use....the more u use the more greenhouse emmsion tax they chrage u...seems more fair.

In singapore, if u stay in Bigger house u pay more bills. over there...it is really hoe much u used. Thats also what i mean by more transparent. Live in bigger house doesnt mean the person is richer. jus that they hv more family members. For my case, my apt is a v old place, it was bought v cheaply. BUT i pay alot more bills than ppl stayin in 3room driving Benz...when i take public transport.

 

[seianko]

progressive tax system like many Ang Mo countries.
Never expect it to be as high as 45-50% lah.
Don't think they do province tax in OZ, so can't be as complex like US.
300K place in Melb suburb?

without tax exemption from other areas 70k tax is hmm... do some math here
0-6K = 0
$6,001 – $34,000 = 3471.876
$34,001 – $70,000 = 4200 + 10799.7
total = 18471.576 or 26.38%

even in SG most ppl income tax range around 5%.

Ang Mo country, every kind of housing is free holding lah.. nothing special also. since U live far far, if need to drive long long daily, it will be pretty costly then.
big house like this CHIO man!!!
http://www.realestate.com.au/cgi-bi...r=&cc=&c=17995345&s=vic&snf=rbs&tm=1241637618
housing loan, can give a general idea? can get 30yr or 15yrs fix at X%? I gather if U pay 5% down the rest will be under 1 loan right?

Food seem cheap.. but can't really tell when U say a box or a tray of XYZ. 1 box can mean 15cm cube or 300cm cube. I get a better understand when I see grams/kg.

getting driving license in Ang Mo countries always easier and cheaper.
heard that from frens in UK/Canada/Netherlands/NZ/OZ.
I guess its only harder in countries like SG and Japan.. LOL.. limited land

OZ toto also bigger cash pot! AUD$20M!!!
http://www.ozlotteries.com/

i can tell u, my frd stay in denmark, her tax is 60%. BUT they hv a fully covered for system...

I am pretty sure the max tax is aust is abt 50%. but i cant remb what income range is that.
There are many ways to reduce tax. I am still trying to figure out.

to b cont

 

[patryn33]

i can tell u, my frd stay in denmark, her tax is 60%. BUT they hv a fully covered for system...

I am pretty sure the max tax is aust is abt 50%. but i cant remb what income range is that.
There are many ways to reduce tax. I am still trying to figure out.

to b cont

that I also know.
all medical bills overed may it be big or small.
even funeral cost is covered.

so whats the property tax there like? that I didn't pull up any info.

making above AUD$180,000 U fall in the bracket of 45%. To be tax entirely at 45%, U must be making over AUD$0.5M a yr. U see that happening anytime soon? if so share lobang man!

 

[lycans]

Juz to check abit the current PR system is the one where you can only stay outside of australia for 2 years out of 5 years or is it you can stay outside for 3 years and must remain in australia for 2 years?

 

[lycans]

i can tell u, my frd stay in denmark, her tax is 60%. BUT they hv a fully covered for system...

I am pretty sure the max tax is aust is abt 50%. but i cant remb what income range is that.
There are many ways to reduce tax. I am still trying to figure out.

to b cont

What ways are there to reduce tax? can share with us?

 

[lycans]

lycans, eh the systems changes alot for maintianing a PR. for instance john apply in 2001 Jan...they change the ruling in apr, but it dun affect john cos he has throw in b4 apr....so i cant exactly tell u wads the new thing cos i dun care..i still fall under the old system. 2/5 yrs in aust.

There is a catch here....i do not necessary stay in aust to maintian PR.....which is wad everyones knows abt. Again this is law loop hole. be my guest to figure it out.

What sorta loophole?

 

[seianko]

that I also know.
all medical bills overed may it be big or small.
even funeral cost is covered.

so whats the property tax there like? that I didn't pull up any info.

making above AUD$180,000 U fall in the bracket of 45%. To be tax entirely at 45%, U must be making over AUD$0.5M a yr. U see that happening anytime soon? if so share lobang man!

i know that max tax in aust is abt 50% becos i hv a local frd's uncle pays that MUCH.....i dun think he earn that much, but, as aust PR/citizen, u r liable to pay tax for properties under ur name worldwide. I guess this expalins all.

I din plan to live that far, but houses nearer to city i cant afford to pay the 20% deposit. abt maybe 20 mins drive to city...=) 20% becos....banks is only willing to laon u max 80% of ur house value. not advisable to take 85% loan. this u hv to talk to a private banker.
NO...no big hse for me....stay alone v scary...plus maintenance for big house alot of work...ZZZZZz....

BTW i remb u asking abt bank laons, this i cant comment either as diff banks offer diff packages. the max number of years u can take loan is 25 years. some banks fixed at 20 years. i can only say all of these banks stuff is case by case basis. All thses u hv to talk to a private banker.

a box....of fruits is alot alot alot......say grapes, 1 brunch is 2aud....i pay 2aud for a box of maybe 5 huge brunch? there is no fixed how big is a box...it depends what the seller uses...XD i ever buy a box of 50-80 nectrines/peaches/apples.....2 bux....whahahaha


Lycans...i am really still trying to figure out. even that if i do managed to figure out, i can't say it white here. I'll get into trouble /w the law. as i am not a pro in that field.

 

[patryn33]

i know that max tax in aust is abt 50% becos i hv a local frd's uncle pays that MUCH.....i dun think he earn that much, but, as aust PR/citizen, u r liable to pay tax for properties under ur name worldwide. I guess this expalins all.

I din plan to live that far, but houses nearer to city i cant afford to pay the 20% deposit. abt maybe 20 mins drive to city...=) 20% becos....banks is only willing to laon u max 80% of ur house value. not advisable to take 85% loan. this u hv to talk to a private banker.
NO...no big hse for me....stay alone v scary...plus maintenance for big house alot of work...ZZZZZz....

BTW i remb u asking abt bank laons, this i cant comment either as diff banks offer diff packages. the max number of years u can take loan is 25 years. some banks fixed at 20 years. i can only say all of these banks stuff is case by case basis. All thses u hv to talk to a private banker.

I still waiting for a number.

Its silly to include property tax, other taxes into a general figure (tax paid to gov = personal income tax). U buy big house, pay more tax, buy more goods pay more Sales tax, drive more often paid for gas taxes.
then those ppl in Denmark will be paying more than 60% with that respect! to buy lux goods (eg Rolex or LV) i think they are tax over 10%!

More like "toa Kang" to boast paying > 50% tax.

buy a smaller place? easy to sell? Need to know the market in OZ. its always easy to buy, selling is a different story.

so whats the loan rates like? when I search its always 1-5yrs fix, the rest is variable.
do have fix for 25yrs?
so much news on variable interest rates killing those Americans.
it will suck if interest rate jump form a fix 6% to 15% after those fix yrs!
http://www.yourmortgage.com.au/compare-home-loans/
https://online.hsbc.com.au/utility/rates/index.html

 

[seianko]

i can tell u, my frd stay in denmark, her tax is 60%. BUT they hv a fully covered for system...

I am pretty sure the max tax is aust is abt 50%. but i cant remb what income range is that.
There are many ways to reduce tax. I am still trying to figure out.

to b cont

yes....but i am looking at 2 bedroom.....peckham is abit too farout.....

 

[seianko]

I still waiting for a number.

Its silly to include property tax, other taxes into a general figure (tax paid to gov = personal income tax). U buy big house, pay more tax, buy more goods pay more Sales tax, drive more often paid for gas taxes.
then those ppl in Denmark will be paying more than 60% with that respect! to buy lux goods (eg Rolex or LV) i think they are tax over 10%!

More like "toa Kang" to boast paying > 50% tax.

buy a smaller place? easy to sell? Need to know the market in OZ. its always easy to buy, selling is a different story.

so whats the loan rates like? when I search its always 1-5yrs fix, the rest is variable.
do have fix for 25yrs?
so much news on variable interest rates killing those Americans.
it will suck if interest rate jump form a fix 6% to 15% after those fix yrs!
http://www.yourmortgage.com.au/compare-home-loans/
https://online.hsbc.com.au/utility/rates/index.html

i believe the 60% tax is personal income tax. I dun think my frd boast. cos we ask her to share with us wads tax like in denmark, she even hv to pay 30% tax for the university tut fees teh govt is giving her.

eh...pat i think u are abut mistaken here, when i mean pay tax for properties, i dun mean property tax....if ur property is generating income, u r liable for tax. Aus tax is a deep knowledge, my cpa frd advise me to take a short course on that when i stay there.

As for the bank, as u mentioned 1st 5 yrs is fixed....but it doesnt mena end of 5th yr i cant look for another bank got refinancing =)....Plus, the webby u show is a very general thing. everyone's finanical situation is v different. so the laon plans up there can be jus generic. financaing a loan in aust or doing it in msia/singapore is v different. Thats y i say, talk to a banker for better info. Cos they will assess ur liability and health of ur finance and how much loan r u eligible to take.

To my knowledge any loan more than 20 years is a bad move. teh interest rate kills.

 

[patryn33]

i believe the 60% tax is personal income tax. I dun think my frd boast. cos we ask her to share with us wads tax like in denmark, she even hv to pay 30% tax for the university tut fees teh govt is giving her.

eh...pat i think u are abut mistaken here, when i mean pay tax for properties, i dun mean property tax....if ur property is generating income, u r liable for tax. Aus tax is a deep knowledge, my cpa frd advise me to take a short course on that when i stay there.

As for the bank, as u mentioned 1st 5 yrs is fixed....but it doesnt mena end of 5th yr i cant look for another bank got refinancing =)....Plus, the webby u show is a very general thing. everyone's finanical situation is v different. so the laon plans up there can be jus generic. financaing a loan in aust or doing it in msia/singapore is v different. Thats y i say, talk to a banker for better info. Cos they will assess ur liability and health of ur finance and how much loan r u eligible to take.

To my knowledge any loan more than 20 years is a bad move. teh interest rate kills.

woliao! Denmark case I agree. I don't agree on thase Local OZ case where U said its 50% lah... PLEASE read with care.

huh? which country so good? don't have to pay annual property tax? even its not generating annual income, U are still liable for tax. SG also make U pay property tax. OZ so good, no need to pay? buy and let it sit there or rent out to Asians like PRC can siam what. In fact better don't siam so many ways to claim tax deducable!
http://www.ato.gov.au/individuals/content.asp?doc=/content/62426.htm&page=4&H4
I believe houses fall in this CAT, nice thing is anything under AUD$250K U pay no tax!
http://www.sro.vic.gov.au/sro/SROWebSite.nsf/taxes_duties_land2009.htm
buying a home, U are just liable for this 1 time thing.
http://www.sro.vic.gov.au/sro/SROWebSite.nsf/taxes_duties_duties_ppr.htm

Don't speak like OZ tax system is the most complicated tax in the world leh.. I had ppl that did their own tax in Canada and States.

regarding the loan.. 5yrs fix and there after variable, of course U not looking for refinance, else where U see that rate jump! U should read up on US subprime mortgage thingy.
sure everyone is different the catch is, that number will not go far. at most 1% diff, which is a big deal liao.

any loan that is long kills! the interest rate don't kills, generally its lower for a longer term. It cost cost more at the end of the line.

yes....but i am looking at 2 bedroom.....peckham is abit too farout.....

2 bedroom and 2 bath, got to share badroom sucks!

 

[patryn33]

What ways are there to reduce tax? can share with us?

look at the tax deductions. Most ppl siam using donation.. didn't donate that much and claim max donations. others U got to learn how to look!
http://www.ato.gov.au/individuals/pathway.asp?pc=001/002/013&mfp=001&mnu=44737#001_002_013

 

[tarui04]

how do u assess how many pts u have when u are still an undergrad and part of the points come from work experience?

is it that I must apply for bridging first/TR then apply?

 

[seianko]

zzz...pat i din say there is no property tax.....

seems that u more free than me...can do research pn their tax....i prefer to hear from their professionals.
I say tax is complicated as they are not my cup of tea. But their tax system is more complicated than us alot.

I hv no idea wads abt the subprime thingy...not much of a papers reader. I am jus no gd in finance...gives me headache. Thats y all along i din wanna comment deep in tax as i hv mention i sorta know yet not sure...=) I see no reason why my frd wanna lie to me abt the 50% tax. cos thats abt teh max tax in aust.

 

[patryn33]

zzz...pat i din say there is no property tax.....

seems that u more free than me...can do research pn their tax....i prefer to hear from their professionals.
I say tax is complicated as they are not my cup of tea. But their tax system is more complicated than us alot.

I hv no idea wads abt the subprime thingy...not much of a papers reader. I am jus no gd in finance...gives me headache. Thats y all along i din wanna comment deep in tax as i hv mention i sorta know yet not sure...=) I see no reason why my frd wanna lie to me abt the 50% tax. cos thats abt teh max tax in aust.

there are always "Toa Kang" (big hole) ppl around. U must don't have these ppl around U, so lucky!
anyway, I also don't see why these kind of ppl do what they do..

I very free want loh or I am quick at google. Need to know if U planning where to go next is good leh..
any tax system is more complex than SG. SG is very simplified lah. Tax is no one cup of tea, when its paying a CPA vs doing it yourself esp when its complex. sure saving some $$ is good. Anyhow I am used to complex system for the past few yrs.

1st timer always good to learn from pro, many did so.. after that use that new found knowledge to do it on your own!

1 making 250K, without tax deductible = only $89499.55 goes to tax, about 35% of its income.
for another that make 0.5M, its only $201999.55 or ~40%, income is doubled and still far from 50%.
even buy property, 1 can get tax deduction thru interest rate etc lowering that personal income tax further.
looking at the tax, the rich are tax less today in 08/09.
http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm

 

[clee4956]

didn't realize there are active members here in aus
and that tax deductible from property, you will need to buy investment property to get that benefit

 

[patryn33]

oh... that sucks! so if its your primary residence the interest you paid into Mortage is not tax deductible.
nice thing, child care is govt subsidize in way depending on income.
my fren is ashwood is paying AUD$310 a week going to a non-profit place, have a nice waiting list of 6mths. other better place they could be paying AUD$400 or so.
with the govt plan.. and the kind of family income she is in, she expects 50% rebate, but have to claim every 3mths.