BUYING PROPERTY BEFORE YOU ARRIVE IN AUSTRALIA MAY HELP YOU GREATLY REDUCE YOUR AUSSIE TAXES WHEN YOU RETURN TO LIVE.
NOT investing in property back home BEFORE you return can mean you could pay twice the amount of tax you have to after your return.
WHY YOU SHOULD CONSIDER INVESTING IN NEW RESIDENTIAL PROPERTY IF YOU WILL BE RETURNING TO LIVE IN AUSTRALIA IN THE NEXT FEW YEARS.
If you are an Australian citizen, who has been working abroad and is returning "home " soon you are no doubt looking forward to it!
You have done the hard work, and for most people they think they will leave everything else until they arrive.
HOWEVER, there are a couple of simple things that you can start to implement NOW, that could greatly enhance your lifestyle after you arrive.
Recent studies have shown that:
1. Less than 1 in 100 new migrants understand Australia's sliding scale of tax.
2. Many new migrants, and returning Australian's are fearful of the "high" tax rates.
3. Fully 80% of all Australian expatriates have put off the decision in previous years to return to Australia to live because of their dislike of "paying high tax."
4. Over 95% of new migrants arriving have no established credit record in Australia. Effectively, they have to "start from scratch."
5. Most new migrants have no banking records, or bank accounts, or credit card established in Australia before they arrive. And many long term expats are in the same position, they have "lost" their credit rating back home.
Decide and organise your children's schooling BEFORE you arrive. Take a trip to look at schools, and meet the teachers.
Talk to Australians or friends whose advice you trust.
Having your children settled and organised ahead of time will relieve an enormous amount of stress for you.
THIS IS A BIG ONE. NEW MIGRANTS TO AUSTRALIA AND RETURNING EXPATS CAN LITERALLY SAVE TENS OF THOUSANDS, IF NOT HUNDREDS OF THOUSANDS OF DOLLARS BY FOLLOWING THIS STRATEGY.
Buy a new investment property (NOT your proposed new home) before you arrive, and ideally as soon as you actually apply for migration or are thinking about going home if you are an expat.
Borrow from an Australian bank for this purchase, to help with your credit before arrival.
Not one in 1,000 new migrants do this, and yet this is one of the biggest single tips to ease your way into Australian life, to reduce your income tax, maybe even to lower levels than you are paying now- and to increase your weekly "take home pay," increase your cash flow and quality of life, as well as to help establish your credit rating down under.
Very few migrants or even expats are aware that up to 60% of the purchase price of a new build apartment is available to them as a legal tax deduction after they arrive for years to come.
But the secret is, to do it as far as possible IN ADVANCE of your arrival.
HERE'S HOW IT WORKS (simplified)
EXPAT PROPERTY TAX REPORT
NEW MIGRANT TAX REPORT
CAN YOU GET A FIRST TIME BUYER GRANT? Hint: You, or your children, must be an Australian Citizen: read more here
CAN YOU ENJOY THE "LOW DEPOSIT" PURCHASE OPTION? Go here
WHY YOU MUST UNDERSTAND VACANCY RATES BEFORE YOU JUMP IN TO BUY.
THE 7 STEP BUYERS SYSTEM...SIMPLIFIED! Click here
PERTH INVESTORS ENJOY A 75% DUTY REBATE! But hurry. Read more here
EDUCATION REPORT NOW RELEASED! How buying can save you tens of thousands if your children will be educated "down-under" Read more.
New Loans for Home Buyers and investors are available.
“There is a strong historical reason to believe this CURRENT downturn (since 2017) is NOT THE END OF THIS CYCLE”
Source: Citylife Property Graphs, Jan 2019
"Dwelling Values Rise In October, The Fourth Consecutive Month Of Growth In The National Index, Taking Australian Dwelling Values 2.9% Higher Since Finding A Floor In June"
"The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values"
"The October result was the largest month-on-month gain in the national index since May 2015"
"The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019"
"The positive October result takes national dwelling values 2.9% off their June 2019 floor, however values remain 5.7% below their peak, highlighting that despite the recent gains, home values are at a similar level to where they were three years ago"
"The strongest growth conditions continue to be centered in Melbourne and Sydney"
"The recovery trend in Melbourne overtook Sydney in October, with dwelling values surging 2.3% higher over the month; the largest month-on-month gain since November 2009.
"Sydney values already are up 5.3% since the recent May low"
Sources: Residex/Corelogic November 2019