Ballarat Accountant recomendations please

Hi there

I have two IPs one in Ballarat and one in Canberra. My Canberra accountant has left to work for a new company and I found Canberra prices across the board eye-watering so maybe I can find a good IP accountant in Ballarat? Any good people to recommend? My tax is plain vanilla. An Australian resident for tax purposes but I live and work in China and just those two IPs there

Thanks so much

 

Nothing vanilla about non resident tax. A complex area

 

actually in my case no. My work here does my tax. I'm a kinder teacher. And there I just tell the accountant the salary I have and the tax I pay and it's that simple. China has an arrangement with Australia. The price was the same when I was living and working in Australa or later when living and working in China. They are just expensive to do IP stuff

So any Ballarat people can tell me of an accountant they like there please

 

Are you a tax resident? If that is a complex area.

why Ballarat if you are not in Ballarat?

 

I have heard good things about
www.befinancial.com.au/

 

Great! That's what I'm looking for. I sent them a copy of my last return and the bill and will see how we go. Thanks. Any more forum member Ballarat recommendations keep em coming. I will let you know when I find a goodie ;-)

 

BeFinancial Ballarat for two IPs and my standard wages. $375 the lot A good saving on the Canberra accountant. Cheaper city ha!

 

I just filed the 2020 tax return. Apparently, I'm still an Australian resident for tax purposes. The day will probably come where I will be an Australian non resident. I guess pay more land tax and CGT if I sell up? Pluses no Medicare levy and don't have to declare my foreign income, just investments there. Not sure if better or worse off. Nice new (nasty) surprise - the HELP threshold has been lowered so the first time I had to pay back student debt.

 

why are you still an Australian tax resident ? is your visa type a non immigration type visa ?

 

one of the factors in the mix yes. One doesn't simply immigrate to mainland China;-). I'm living and working here on and off over the years. Other countries in between not Australia. Now coming up for third consecutive year here in same job and city now

 

I agree. By the sounds of it you are likely to be a non resident for tax purposes

 

Bingo. My deduction this year also. So is that cheers and beers or boo in money terms tax wise with the change for next return?

 

It could be good or bad depending on the circumstances

 

You sound like the most famous proverb here ;-) Chinese Story: An Old Man Lost His Horse--Sai Weng Shi Ma
The Most Famous Chinese Horse Proverb
One of the most famous horse proverbs is 塞翁失馬 (Sāi Wēng Shī Mǎ) or Sāi Wēng lost his horse. The meaning of the proverb is only apparent when one is familiar with the accompanying story of Sāi Wēng, which begins with an old man who lived on the frontier:

 

When I was looking to go back to Europe I spent a bit of time researching on this and it wasn`t an easy topic. I would recommend you get an accountant who already works with people working overseas. If you do a search you`ll find few threads in this.

 

When I was non-resident for tax purposes it generally sucked because it meant I paid more tax than if I was a resident for tax purposes. It's not good if you have no tax free threshold and pay tax on the first dollar. No CGT 50% discount for assets held more than 12 months is also a biggie. The only advantage for me as a non-resident was that any income that I derived from o'seas (US share divs and rental income from condos in Asia) didn't have to be declared on my Aussie tax return. I also didn't have to pay any CGT on my ASX share trades.

 

Thanks for a great answer. No way for it. I have zero ties to Australia.(nope I don't have a family here or a home just me zero family whatsoever) Just stuff there. Expats cop it every way. CGT rules changed last year also. I won't sell for my own reasons. I'm negative geared (rather I wasn't). Australia wants to know my income now to take for student loans now they lowered the HELP debit. So I guess my job there is working for the government. So perhaps I can get the tax threshold. Anway just waiting for the 'expert's ie my accountant and the ATO to confirm what I already know. Of course it depends on how they want to argue in court. They always want as much money as possible!