Expatland Giving Back Event – Exodus

On December 19, Expatland Giving Back joined the Exodus Foundation in helping out their community.

It’s an opportunity dedicated to contributing to the foundation’s mission of helping the community’s less fortunate and spreading joy this holiday season.

It was a great day and the team is grateful for the chance to give back through their own way, making this event truly memorable.

 

 

Looking into Buying Trends in 2019

Australia is experiencing a dip in consumer confidence at the moment.

As we can see, we are still above the historical average. But what does this mean for the Sydney property market?

Retail credit is still hard to come by (except for Expatland service providers) but is the rest of the Sydney population thinking its credit crunch 2.0? 2008 was a decade ago now and many are saying that we may dip again below the trending average in 2019. The Sydney property market is watching 2019 through a lens of skepticism.

The political sphere is driving this down with a March state election where the Premier is not handling her team well while no-one knows the name of the opposition leader. What’s going to happen? I know that treasury is screaming from the reduced forecast of stamp duty revenue.

What are they to do?

Federally we have a new PM that wants to reduce population growth and an opposition leader that wants to run on the premise of getting rid of negative-gearing? Do any of our leaders really want to foster a growth environment again?

What I do know is this? Buy low. Sell high.

The increased interest in doing deals in Sydney right now on both residential and commercial property is rife. We are negotiating on several investment properties for our clients in which the developer needs to sell remaining product or product with settlement risk with a 5-15% discount. Additionally, our clients are capitalising on buying established home’s for repatriation due to the pressure on some homeowners to sell.

One Sydney expat client from Hong Kong called to get some advice as she was not scheduled to come back to Sydney for another few years but wanted to take advantage of the current market and find her home for retirement. Over the New Year period, three private inspections will happen via Skype.

So don’t let the consumer sentiment get you down, take advantage of the counter market cycle and use the Christmas and New Year periods to reflect and plan for the next year or years ahead.

 

Expatland to Develop First African E-Team in Nairobi, Kenya

 

The Expatland Global Network is expanding into Africa in 2019 with the launch of an E-Team in Nairobi, Kenya.

John Marcarian, founder of Expatland will be holding an invite only business lunch in Nairobi on January 16th to discuss setting up an Expatland Team, or E-Team, in the city with expat service providers.

The Expatland Global Network is made up of E-Teams operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “Expatland launched less than a year ago, but we already have E-Teams across the world in Europe, North America, Oceania and Asia. Africa is our next target and we believe Kenya is a hotspot for expat movement and the perfect location for our first E-Team location on the African continent. I look forward to meeting expat service providers in Nairobi and introducing the Expatland Global Network.”

Does your business provide services to expats moving to Kenya from another country?

Come to the Expatland Global Network business seminar on Wednesday, January 16th in Nairobi to learn about our growing network and how we can help to drive leads for your business.

Contact Daphine Basima at Expatland daphine.basima@expatland.com with details of your business to be added to the Nairobi E-Team event invitation list.

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/ 

JP & JP Financial Services Joins Expatland’s Melbourne E-Team

 

Leading financial services company JP&JP Financial Services has joined The Expatland Global Network. The firm will provide financial planning services to the Melbourne E-Team’s clients.

JP & JP Financial Services Pty Ltd is a financial advice company that is not vertically integrated and does not have any in-house products. The team only selects the best financial products that suit their client’s needs with no conflict of interest.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams).

Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “We believe that JP & JP Financial Services will be a key member of the fast-growing Melbourne E-Team. They specialize in making the process of transitioning as simple as possible for expats.”

Shannan Stevens, senior financial planner and head of business growth and development, JP & JP Financial Services, comments, “We want to be able to make the expat’s holistic experience as easy and satisfying as possible while complimenting the services offered by the rest of the Melbourne E-Team. Life and personal insurance is a complex area of financial planning and we are able to offer all the advice and services needed for expats.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London, and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Temporary Residents – Australia’s Tax Concessions for Expats

A range of income tax concessions are available to individuals who become resident of Australia and who qualify as temporary resident.

Many have the impression that Australia is a very high taxing country with very few tax concessions.

While that may be true in many cases, Australia also has very generous tax concessions in relation to temporary residents.

Australia, being a worldwide tax regime, taxes its residents on their worldwide income.

This means that if you move to Australia any foreign investment income your have will be taxable here.

Can you be a “temporary resident”?

If you are the holder of a “temporary resident” visa, and provided your spouse is also not an Australian citizen or permanent resident then you will qualify as a temporary resident and you can take advantage of these generous concessions.

This would mean that you would not be required to pay tax on your foreign investment income in Australia, even if you bring that income in Australia.

It is also the case that you would only be subject to capital gains tax in Australia on a very narrow range of assets, which would typically only include Australian real estate investments.

Foreign sourced capital gains would not be taxable in Australia.

This makes Australia a very compelling jurisdiction for foreign nationals to move to on a temporary basis without having to worry about all the complexity associated with bringing foreign investment “on shore”.

However, if you move to Australia and then decide to become permanent resident or if your spouse becomes an Australian citizen then you would cease being a temporary resident for tax purposes.

Note that the definition of “spouse” includes a person who you are legally married to or who you live with on a genuine domestic basis as a couple.

If you have questions about your eligibility to this very important tax concession, please reach out to CST Tax in Sydney and we would be happy to advise you further.

Expatland Relocation – Ensuring Your Move Is a Success

 

Australia is a popular choice of destination for many expatriate families and even though it has language, cultural and lifestyle similarities to many other countries, moving to Australia is not without its challenges.

Moving home anywhere is widely known to be one of the most stressful experiences in life and so it is particularly important when moving across international borders to get professional assistance from a specialist International Moving company and/or Relocation Service Provider.  Australia is no exception.

Our E-Team member Nuss Relocations are experts in relocation services and has written a guide on helping you ensure your move is a successful one. This guide is a must read to help you alleviate the stress and complexity of your move.

To download the guide click here

Expatland Finance – Being Prepared in Your New City

 

The cost of living is of major importance to you and your family in looking at whether you will be better off in Expatland. The cost of living in different parts of Expatland varies widely and is affected by many factors beyond your control.

Just one of these, for example, is, say, the effect of tax rises in Expatland.

Those countries in Expatland that may have higher national debt as a percentage of GDP might seek to raise taxes shortly after your arrival. This tax rise – whether indirect or direct – may affect your cost of living in a very short period of time.

It is therefore important for you to prepare a budget. Our E-Team members, XE have written a guide on ensuring you are well equipped to deal with your move financially. It is an essential read and will assist any expat with moving to their new home.

To download our guide please click here:

Utilising Your Australian Super to Fund Life Insurance – Considerations for Australian Expats

 

We see many Australians living overseas unaware that they can use their super to fund their cash flow and asset protection. Buying Life Insurance through super can be a convenient and affordable way to get the cover you need.

Further, Australian life products are often more affordable compared to the local options and the definitions are world leading.

There are, however, a number of things you need to consider before you decide how you want to structure your Life Insurance.

What type of insurance can you access through super?

Through super, you have access to three important types of insurance cover:

  1. Income Protection which provides an income stream for a specified period if you can’t work due to temporary disability or illness.
  2. Total and Permanent Disability (TPD) which provides a lump sum benefit if you become seriously disabled and are unable to ever work again.
  3. Life Insurance provides your beneficiaries with a lump sum benefit if you die.

What are the advantages of taking out Life Insurance through super?

Using your superannuation to pay for your Life Insurance can be a good way to help you afford the cover you need, without eating into your budget.

You also have the opportunity to make before-tax contributions to super to pay for your insurance (e.g. through salary sacrifice), which may help reduce the amount of tax you pay.

What are the disadvantages of taking out Life Insurance through super?

If you don’t make additional super contributions to pay your insurance premiums, your retirement savings will reduce. Also, there are different rules around Life Insurance policies owned through super that may make benefit payments less tax-effective for your beneficiaries.

What else should expats consider?

Buying insurance through super may seem like the perfect solution, but there are some things you should consider first:

Keep track of your insurances through super
If you have more than one super fund you may be paying for more than one policy.

Not all benefits are tax-free
Tax may be payable on some benefits, depending on who receives the benefit and when it is paid out. If your beneficiary is not a dependant, there may be tax implications.

There can be delays in benefit payment
Insurers will pay the benefit to your fund’s Trustee, who will then distribute onto you or your beneficiaries.

Consider your beneficiaries

If you do not make a binding beneficiary nomination, or your fund does not offer binding nominations, the super trustee will decide who receives your benefits when you die. Usually, benefits are paid to dependents, after taking your wishes into consideration.

Using your super to fund your life insurance is a perfectly viable strategy but being aware of the various considerations is critical. Seeking advice from an Australian Life insurance Specialist key.

 

Written by: IMFG