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 [AMA] I immigrated to Australia early 2022, Ask me anything!

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Chinoz
post Jun 16 2023, 07:41 AM

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QUOTE(kenji1903 @ Jun 15 2023, 08:03 PM)
House is pretty much the same, but the cukai Pintu and cukai Tanah in Aussie is crazy high…

If you live in selangor, you practically don’t need to pay water bill… in Aussie, you pay very high water bill, high electricity bill plus there’s gas bill… heating is very expensive, e.g. my relatives in UK pay £300/month just for electricity

In Malaysia You can ask a Bangla or Pak Indon to paint your house, in Aussie you don’t have that option… anyone will quote you cut throat prices
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There’s a reason why you can drink water straight out from tap in Aus wink.gif
Chinoz
post Jun 16 2023, 09:01 AM

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QUOTE(adamhzm90 @ Jun 16 2023, 08:35 AM)
how's the social life there..

when i went to perth for vacation last time, at late noon everything shutting down already..
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Very good. Aussies are very social creatures.

Reason retail shops close early is to allow people to go on and have a life after work hours.
Chinoz
post Jun 16 2023, 10:57 PM

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QUOTE(Ramjade @ Jun 16 2023, 08:04 PM)
Is that pre tax or after tax?  Cause right now I feel so sayang earning tax free dividend and if I make the move my dividends all will be tax. sad.gif
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You are so fixated with tax, but did you realise your single tier dividend already includes 30% tax paid?
Chinoz
post Jun 17 2023, 08:28 AM

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QUOTE(Ramjade @ Jun 17 2023, 12:27 AM)
I don't like that I am getting tax on dividends at more or less same rate with my salary. I am getting my dividends tax free in Malaysia. And no I am talking about franking credits as I am not interested in Australia stocks.
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That’s fine, you do you. I’m not here to give tax advice.

MY has moved on to single tier regime while AU still has franking credits so I’m a little confused by your last sentence.
In any case, I’m sure you know what you’re doing so will leave it at that.
Chinoz
post Jun 17 2023, 09:13 AM

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QUOTE(Ramjade @ Jun 17 2023, 08:40 AM)
I think I will give you an example
Malaysia tax resident
Say I earned SGD10k in dividends from sg, I get to keep the full amount of dividend cause it's not taxed by Malaysia govt.

Australia tax resident
Say I earned SGD10k in dividends from sg, now this SGD10k will be added into my income tax. I don't get to keep my full SGD10k.

Hopefully it's clearer now.
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In first scenario, the 17% tax paid is not recoverable.

In second scenario, the gross 12k dividend is added to your income while the 2k tax paid is claimed as a tax offset in AU.

Depending on your individual circumstances/structure and foreign country dividend tax rate, you may either get a refund back or have to top up.

—

So I agree, there is a scenario where you may be worst off as an AU tax resident, but it must be said there is also a scenario where you might be better off.

Again, not tax advice.
Chinoz
post Jun 17 2023, 12:11 PM

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QUOTE(Ramjade @ Jun 17 2023, 11:49 AM)
Maybe I am just stupid that I can't find any tax shelter in Australia for retirement purpose or maybe it just doesn't exist apart from super.
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All the best bro, whatever your objectives are.

I won’t comment further as I might be wrong and don’t want to mislead or give wrong advice.
Chinoz
post Jun 18 2023, 07:08 PM

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QUOTE(koja6049 @ Jun 18 2023, 05:15 PM)
If you're gonna move your investments to australia, you need to understand the australian system and what australians do in australia, not applying what you know from malaysia or singapore since they are not applicable anyways.

The biggest thing in australia is not super, but negative gearing. many australians get a mortgage to buy very expensive properties and then rent them out. You can report a net rental loss this way and even recover tax credits from the govt. That's why you hear the insane property price growth there, it is all due to the negative gearing system

https://treasury.gov.au/review/tax-white-pa...egative-gearing
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All fine and dandy until you realise there’s a negative cashflow element when negative gearing.

I’m not sure why the media likes to portray it as a free ride to riches.
Chinoz
post Jul 5 2023, 08:12 PM

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QUOTE(Ramjade @ Jul 5 2023, 08:04 PM)
Salary if I work and stay I Australia on employment visa, am I taxed as Australia resident or foreign tax resident in Australia?
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Already say stay in Australia, of course you’ll be deemed as an Australian resident for tax purposes.
Chinoz
post Jul 7 2023, 09:24 AM

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The ATO has guidelines on who is and isn’t a tax resident, and they’ve stated that their definition of resident for tax purposes is not related to whether you’re a local or a foreigner.
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