PPRuNe Forums - View Single Post - Proposed Taxation Changes to Residency Rules
Old 13th Aug 2021, 23:40
  #10 (permalink)  
Gnadenburg
 
Join Date: Jun 2002
Location: Eden Valley
Posts: 2,152
Received 92 Likes on 41 Posts
Originally Posted by swh
The 45 days includes time at the behest of your employer. There will be pilots (and many other expats) who will trigger 45 days during their normal duties. A day is defined as a calendar day or part thereof. Arrive at 10 pm, have 27 hrs rest and depart 1 am, that is 3 days.
I haven't read anything suggesting if you come to Australia on a General Declaration, this will count toward your 183 days, or 45 days on further scrutiny? That's ragged and unfair for aircrew.

I received my movement records from Home Affairs Dept and there is no record of my departures nor arrivals as a crew member on international flights. Anecdotally, form a high-net worth Australian tax specialist, I'm pretty sure these are the records the Tax Dept accesses.

As should be telling from the lack of interest in this thread, it should be apparent nobody gives a rats a$$ about expatriate pilots and taxation. Judging by the lack of empathy of many Australians at the stress of repatriating as a redundant Cathay Group pilot, I'd suggest be prepared for a very strange and selfish country on return. It's insular and shallow, at the same time selfish and spoilt. I'd be on a plane out of here but these tax laws will make it cheaper to actually retire here, rather than live abroad on the contracts on offer!

Originally Posted by krismiler
When the time comes, I'll sit down with the accountant and work out whats best for me under the prevailing laws at the time.
Yep, the prevailing laws at the time! Ain't that the truth. Very hard to plan a retirement strategically, with government often moving the goalposts. Property was even better years ago. That said, by late 2020, many saw their personal wealth dramatically increase, despite job loss thanks to stimulus and a low interest rate environment. It's bizarre. Now, many Australians seem to think our economy bullet proof. It's concerning, political leadership is becoming bi-partisan in its fiscal irresponsibility, with elections looming. A curse of modern democracy.

Personally, I went down the road of property and maximum Australian super to facilitate retirement. Property yields are low and CGT liability high. However, it seems a powerful protection against inflation.
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