Expat Chat Podcast

Welcome to the one hundred and twenty fourth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about the the proposed changes to the Non Dom and Inheritance Tax rules in the UK and how that may affect Australian expats.

The Non Dom rules have been part of the UK tax system for over 200 years and many Australian expats, as well as other nationalities, have relied upon it to avoid assets held outside of the UK being taxed by the HMRC.

Before Julys election the UK Labour party pledged to address the issue of Non Dom residents and they look like they will be taking this and other topics a lot further.

In this episode we run through the following topics:

• How do the proposed Non Dom changes affect Australian expats?

• Should a Australian expat in the UK reconsider their time in the country?

• What are the proposed changes to the Inheritance Tax rules and how does this affect Australian expats in the UK?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and twenty third episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about the news that the Australian government is looking to remove Negative Gearing and how that will affect Australian expats.

We all know (or we should) that Australian expats don't get the ability to negative gear their property when you are classified as a non-resident for tax purposes however with so many owning property back in Australia any changes to the tax laws back home will affect their assets.

With over 1 million Australians relying upon negative gearing concessions to fund the cashflow gap of Australian properties any changes to negative gearing will affect the property market but will it be positive or negative?

In this episode we run through the following topics:

• How does negative gearing work for Australian expats who own property in Australia?

• If Canberra was to remove negative gearing what would it do to the property market?

• How will a change in negative gearing rules affect renters?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and twenty second episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we answer some of the questions that members of our Australian Expat Financial Forum Facebook group recently asked.

We find the Facebook group is a invaluable way to talk to and engage with Australian expats in any country and members can engage with their fellow expats and share to experiences in managing their finances whilst living overseas.

With over 3,000 members (and growing rapidly) it is becoming a popular forum for Australian expats the world over.

In this episode we run through the following topics:

• Is it possible to open a trading account in Australia to invest in Australian ETF / Index funds while being a non tax resident and living overseas?

• What are the eligibility requirements to receive the Australian aged pension from the government whilst living overseas?

• What to do with the assets you have accumulated in the UK when you are looking to move back to Australia?

• Does the US exit tax kick in from your arrival on a visa or is it only the green card years?

• What happens when you withdraw Australian retirement funds out to a US bank account?

• Why is Australia the best place to domicile your assets even when you are looking to retire to Australia?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and twenty first episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we debate whether Australian expats can use ChatGPT and AI to obtain tax and financial advice.

With more tools available to Australian expats today then ever before many aussies are using online tools like ChatGPT and AI to undertake their research when either considering becoming an expat or how to make the most of their time when they are living overseas.

However with most large language model tools like ChatGPT the information you get out is only a good as the information you put in.

If you phrase a question incorrectly or don't know the question to ask ChatGPT does not have the cognitive ability to make you aware of a situation because you didn't know to ask it.

In this episode we run through the following topics:

• Can a Australian expat use ChatGPT to make financial decisions?

• What can I use ChatGPT for?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and twentieth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about the difference between a australian expat accountant and an australian expat financial planner.

When a Australian expat is seeking out a specialist to help them manage their financial affairs living overseas there can often be confusion as to whether you should approach a expat accountant or a expat financial planner.

Whilst the two roles sound very similar, and in some cases interchangeable, in actual fact they are very different and defined.

One of the popular resources we offer is our Australian Expat Financial Forum where aussies can come together to ask questions and share their experiences.

In this episode we run through the following topics:

• What role does a Australian expat accountant have?

• What role does a Australian expat financial planner have?

• Can a Australian expat accountant do a financial planners role and vice versa?

• What do I need to consider when engaging a specialist as a Australian expat?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and nineteenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we catch up after the summer break and answer some question from our Facebook Group, the Australian Expat Financial Forum.

Many Australian banks are emailing their customers, including Australian expats overseas, asking for them to verify themselves by providing documents to verify their identity.

There are always many questions that Australian expat have when it comes to managing their finances when living overseas and the Atlas Wealth Group has been investing in more resources that is going to enable us to educate more Australians and reach more people.

One of the popular resources we offer is our Australian Expat Financial Forum where aussies can come together to ask questions and share their experiences.

In this episode we run through the following topics:

• Where should I domicile my assets and how does this affect my residency?

• Is an Australian tax resident able to have a UK SIPP??

• Can an expat buy property with finance in a SMSF?

• What changes can Australian expats in the UK expect with the new government?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and eighteenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about why Australian expats need to respond to the banks in Australia when they ask for identification.

Many Australian banks are emailing their customers, including Australian expats overseas, asking for them to verify themselves by providing documents to verify their identity.

Unfortunately in today's age where cyber crime is rife people are chosing to ignore these emails or alternatively don't believe they have to provide these documents which unfortunately leads to their account being locked.

A raft of legislation has been passed by governments around the world that now makes it a legal requirement for banks and financial services companies to request this information in order to combat money laundering and terrorism financing.

In this episode we run through the following topics:

• Why do they want these documents?

• What is the common reporting standard (CRS)?

• How do I ensure the request is legitimite?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and seventeenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about the topic of whether an Australian expat can have a SMSF.

We have covered this topic previously however it keeps popping up and its important that we run through this again because there is still a lot of incorrect information being passed around by expats and professionals.

The main considersation that Australian expats need to understand when considering changes to their SMSF when they move overseas is that is the solution a stop gap or band aid fix or a qualified and compliant solution.

The price for non-compliance is extremely steep for Australian expats and if the ATO deems the account as non-compliant you could lose 46% of the balance of the account in the first year.

In this episode we run through the following topics:

• What are the rules for a SMSF to be compliant?

• Can't I just make a friend or family member a trustee?

• How does the Central Management & Control (CM&C) rule affect expats?

• Why is the active members test such an important one for expats?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and sixteenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

In today’s Expat Chat we talk about who an Australian expat can nominate as a benenficary of their superannuation in the event of their death.

Nominating a beneficary of your super fund should you pass away is something that a lot of Australian expats do not pay attention to which is scary if you think about it.

Is the appropriate person receiving and gaining access your life savings?

Something as simple as a 60 second check of your super fund can determine whether your wishes as to where your retirement savings go are correct or not.

There are also many rules as to who an Australian expat can nominate on their binding death benefit nomination and it isn't as simple as just picking someone.

In this episode we run through the following topics:

• What is a binding death benefit nomination?

• Who can you nominate to receive to be a binding death benefit nominee?

• What is the difference between a binding and a non-binding nomination?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt

Welcome to the one hundred and fifteenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat.

With the Australian Federal government recently releasing the annual federal budget there were many hopes and expectations of tax reform and restructuring to prepare the Australian economy for the years ahead but unfortunately none of that was to come to occur.

This years federal budget is all about positioning the Labor government for a election which maybe called as early as October this year.

The message they tried to get across was that we are fiscally responsible and you can trust us to manage the economy but with stimulatory policies in a number of areas we will see pressure on inflation and a reasonable chance that either interest rates wont fall within 12 months and a small chance of a rate rise

In this episode we run through the following topics:

• What were the major announcements?

• Do any of the announcements affect expats?

• Is there an update on the proposed tax residency rule changes?

Links that we discussed in this episode include:

• Upcoming events - https://atlaswealth.com/events

• Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum

• Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/

• Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/

If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.

Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.

Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.

Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.

To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.

Make sure you connect with us on our respective social media channels:

Facebook: www.facebook.com/atlaswealthmgmt

LinkedIn: www.linkedin.com/company/atlas-wealth-management

Twitter: www.twitter.com/atlaswealthmgmt

Instagram: www.instagram.com/atlaswealthmgmt