Regardless of location, expats have had to adapt and deal with the effects of Covid.
There’s been evidence of expats returning and re-occupying their properties, leading to a shortage of family homes on the rental market. We’ve also heard of people staying put because they’re reluctant to abandon a promising international career and settle for a lesser role in Australia.
Then there are those who want to return when they find the right job and are now actively looking to buy so they’ll have a home to come back to.
Most local buyers get spooked by the last group, thinking that they have a lot more money to spend - but do they really? Well, it’s not that simple.
You see, buying and selling property while you live overseas brings with it a range of financial - tax - implications.
We’re speaking with Brett Evans, the Managing Director for the Europe, Middle East and African region (EMEA) and a Financial Planner with Atlas Wealth Management. We’ll cover a wide range of topics surrounding property, tax, and expat life amid Covid, and dig into some advice that will truly benefit those abroad or those planning to leave the country.
See you in the episode!
Episode Highlights:
How has Covid affected the expats’ financial plans? [02:47]
Are expats still willing to stay abroad despite the financial instability? [05:07]
The perception that the government doesn’t care about expats [07:12]
Taxation changes for expats [08:53]
The impact of the main residence exemption [10:36]
The unintended consequences of the changed tax policy [13:34]
New qualifying tests to classify which rules apply to you [17:38]
Where are expats moving around to? [22:28]
What does it mean to be an AU tax resident but live in a different country? [24:58]
Does the government double-dip? [28:17]
What do expats need to be thinking of in regards to stamp duty? [34:23]
How the policy change is affecting Aussies’ decision to come home [39:23]
Do non-residents have to pay more stamp duty than residents? [42:53]
Factors that affect where Aussies move to when coming back home [46:25]
The biggest issue with working in Australia from afar [49:35]
Advice for expats who want to buy property [54:32]
The industry is adept at utilising buyers’ emotions [59:18]
Links from the show:
Visit Atlas Wealth
Check out NEOM
Read about the Saudi Crown Prince’s Vision for Neom on the WSJ
About our Guest:
Brett Evans is the founder and Managing Director for the EMEA region for Atlas Wealth Management which is the leading provider of financial advice to Australian expats. With over 24 years of experience in the finance and investments industry, Brett has worked for blue
chip companies that include the Australian Stock Exchange (ASX), HSBC, Suncorp and Citigroup. Brett & Atlas Wealth Management have been nominated as a finalist (and have won) numerous domestic and international awards for their specialised advice to Australian expats.
Connect with Us:
Looking for a Sydney Buyers Agent? www.gooddeeds.com.au
Work with Veronica: https://linktr.ee/veronicamorgan
Looking for a Mortgage Broker? www.wealthful.com.au
Work with Chris: [email protected]
Send in your questions to: [email protected]
Find this episode on our website:https://www.theelephantintheroom.com.au/podcasts/194
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