Expat Forum For People Moving Overseas And Living Abroad banner

1 - 8 of 8 Posts

·
Registered
Joined
·
10 Posts
Discussion Starter · #1 ·
Hi All,

I have been granted the visa under subclass SN-190 :D. I am planning for the initial visit by next December to activate the visa, then I will travel permanently next August.

I wonder what are the things that I could do during this initial visit? What are your advises? Should I open a bank account? issue the driving license? Medicare, etc?

What are the plans from your experience? I really appreciate your thoughts.


Regards,
__________________________________________________

262111 || ACS: 23-Jul-2012 || IELTS: 14-Feb-2013 || VIC SS + : 11-Jul-2013 || Lodge 190(Online) : 22-Jul-2013 || CO: 15-Aug-2013 || VAC2: 28-Oct-2013 || 190 Grant: 01-Nov-2013
 
G

·
Unless you are staying permanently you cant do most of those things. You need a permanent Australian address with evidence of such to register with Medicare and RTA for a driving licence. You can open a bank account niw if you wished but need to go in and show your passport and visa to get the bank card when you arrive.

Just validate and enjoy your holiday.
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #3 ·
Unless you are staying permanently you cant do most of those things. You need a permanent Australian address with evidence of such to register with Medicare and RTA for a driving licence. You can open a bank account niw if you wished but need to go in and show your passport and visa to get the bank card when you arrive.

Just validate and enjoy your holiday.
Thanks _shel, I really appreciate your comment :)

Just one more question please. Now I am working in Bahrain and I will be moving to Australia permanently after finishing my contract in August 2014. So, is it compulsory that I pay taxes in Australia for my overseas income? And is that related by any means to opening a bank account during my initial visit? :behindsofa:

I would like to open a bank account so that I can transfer my savings directly to Australia through bank transfer before my permanent move instead of having to deal with other ways such as checks, etc.

Thank you in advance for your help. :help:

Mohamed
 
G

·
Thanks _shel, I really appreciate your comment :)

Just one more question please. Now I am working in Bahrain and I will be moving to Australia permanently after finishing my contract in August 2014. So, is it compulsory that I pay taxes in Australia for my overseas income? And is that related by any means to opening a bank account during my initial visit? :behindsofa:

I would like to open a bank account so that I can transfer my savings directly to Australia through bank transfer before my permanent move instead of having to deal with other ways such as checks, etc.

Thank you in advance for your help. :help:

Mohamed
You do not need to pay taxes in Australia until you are resident in Australia. However if you place money in an Australian bank account you will pay a 10% tax, deducted automatically because you are not resident so hold off putting large sums into a bank until you actually move.

I opened an account online with NAB. I transfered money electronically a month or so before moving then showed up in the bank with my passport and proof of visa & address a week or so later when I was given my bank card.
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #6 ·
You do not need to pay taxes in Australia until you are resident in Australia. However if you place money in an Australian bank account you will pay a 10% tax, deducted automatically because you are not resident so hold off putting large sums into a bank until you actually move.

I opened an account online with NAB. I transfered money electronically a month or so before moving then showed up in the bank with my passport and proof of visa & address a week or so later when I was given my bank card.
Thanks _shel. Your inputs are highly appreciated.

So I will do the following, and please correct me:

1. During my initial visit, I will walk to the bank with my passport and visa proof and open an account.

2. I will deposit a small amount of money which will be subject to 10% tax.

3. Before I actually move on permanent basis to Australia, any money transfer will still be subject to 10% tax?

4. If yes, so how will I transfer my savings from Bahrain to Australia after I will have moved? Checks and so on? Note that I after I finish my contract in Bahrain I will not be allowed to keep any bank accounts open, and I do not want to transfer money back to Egypt (due to current military government ruling the country :ballchain:) as it will be never transferred abroad to Aus again.

Any thoughts?
 

·
Super Moderator
Joined
·
3,447 Posts
Thanks _shel. Your inputs are highly appreciated.

So I will do the following, and please correct me:

1. During my initial visit, I will walk to the bank with my passport and visa proof and open an account.

2. I will deposit a small amount of money which will be subject to 10% tax.

3. Before I actually move on permanent basis to Australia, any money transfer will still be subject to 10% tax?

4. If yes, so how will I transfer my savings from Bahrain to Australia after I will have moved? Checks and so on? Note that I after I finish my contract in Bahrain I will not be allowed to keep any bank accounts open, and I do not want to transfer money back to Egypt (due to current military government ruling the country :ballchain:) as it will be never transferred abroad to Aus again.

Any thoughts?
You don't pay tax on the money you transfer in from overseas, you pay tax on whatever interest accrues as a result of the money being held in that account since it is considered a form of income. Everyone has to pay tax on interest, but as a non-resident without a TFN, the tax will automatically be withheld by the bank.

You may wish to transfer some money over before you come in on your activation trip so you have funds while you're visiting. You would then presumably transfer over whatever money you have left overseas before you move permanently.
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #8 ·
You don't pay tax on the money you transfer in from overseas, you pay tax on whatever interest accrues as a result of the money being held in that account since it is considered a form of income. Everyone has to pay tax on interest, but as a non-resident without a TFN, the tax will automatically be withheld by the bank.

You may wish to transfer some money over before you come in on your activation trip so you have funds while you're visiting. You would then presumably transfer over whatever money you have left overseas before you move permanently.
Thank you ozbound12, that really helped me to understand

:yo::yo::yo::yo:

Regards,
__________________________________________________

262111 || ACS: 23-Jul-2012 || IELTS: 14-Feb-2013 || VIC SS + : 11-Jul-2013 || Lodge 190(Online) : 22-Jul-2013 || CO: 15-Aug-2013 || VAC2: 28-Oct-2013 || 190 Grant: 01-Nov-2013
 
1 - 8 of 8 Posts
Top