Investment strategy needed for self funded retiree wanting expat life

Discussion in 'Share Investing Strategies, Theories & Education' started by Sick_of_scams, 1st Sep, 2018.

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  1. Sick_of_scams

    Sick_of_scams Well-Known Member

    Joined:
    31st Mar, 2018
    Posts:
    121
    Location:
    Gold Coast
    Do you own QLD property with land value component over $350,000? If so then Commonwealth residency test is not the factor you need to look at for Land Tax. QLD State laws have their own definition under 'Absentee' and all that is required is if you are absent for 6 months of a financial year - then you pay full Land Tax at corporate rate and Absentee Surcharge.

    You can still be a resident for tax purposes under Commonwealth legislation but an Absentee under QLD law.

    it is regardless of your intentions overseas (unless you are working in an approved occupation - gvt or approved company). That's why Queensland property owners cannot take longer holidays than their other State counterparts. Other States of Australia do not apply this to Australian citizens. It is uniquely Queensland (since 2017 Budget).
     
    Sick_of_scams, 3rd Sep, 2018
    #41
    jaklap90 likes this.
  2. jaklap90

    jaklap90 Active Member

    Joined:
    9th Apr, 2018
    Posts:
    33
    Location:
    Sydney
    No, I do not have property in QLD. I see what you mean.

    As you said, I believe in NSW it doesn't apply to Australian citizens.
     
    jaklap90, 3rd Sep, 2018
    #42
    Sick_of_scams likes this.
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