Moving to Darwin from the UK on a permanent or temporary basis means you will have to complete and lodge an Australian tax return each year.
For most migrants to Australia from the UK this means that you will have to deal with a new tax system: new tax forms, Australian tax returns to be completed each year with filing deadlines to be met, and probably the need to consider your tax residency status and the interaction of tax systems in Australia and the UK.
Also, your Australian visa status can have a significant impact on how you are taxed in Australia on income and capital gains, particularly if you have a temporary residency visa and are receiving income or the proceeds of a capital gain after the disposal of an investment outside Australia.
For many new arrivals to Australia If you have no untaxed income in the first tax year after you have moved to Australia – for example if your only income in Australia is a wage or salary from an Australian employer that has already been taxed – you can also expect to receive a tax refund after you have prepared and submitted your first Australian tax return.
In this regard optimising your claim to tax deductions that are reasonably available to you under Australian tax law will improve your tax position and increase the tax repayment that is available to you.
bdh Tax offers the following services to individuals who are moving to Darwin:
- Tax planning advice, with a regard had to your visa status in Australia if you are not an Australian citizen
- Tax File Number registration with the Australian Taxation Office
- Help preparing Australian and UK tax returns (including advice on tax deductions to reduce your tax liability); whenever possible tax returns are submitted to the Australian Taxation Office and HM Revenue & Customs in the UK electronically
- Advice to ensure your income is properly taxed and is not taxed twice. This includes advice for new Australian tax residents who are receiving UK rental income, and pension income from the UK
- Guidance on the use of superannuation in Australia as a means of securing improved after tax income, including the use of a Self Managed Superannuation Fund
- Preparation of accounts for taxpayers who are operating their own businesses, including advice on business structures, including limited companies, partnerships, and family trust structures
bdh Tax provides a fixed fee quote whenever possible to all who are interested in engaging our services.
We can assist with the preparation of tax returns for submission to the Australian Taxation Office and to HM Revenue & Customs in the UK.
If you are moving to Darwin – or are already living in Darwin – and would like a no obligation fixed fee proposal from a firm of tax advisors that understands the issues affecting new arrivals to the Northern Territory please contact us by completing the enquiry form on this webpage, or telephone us on 08 6180 2533.
We look forward to hearing from you.