411 moving overseas and your money (expat Q&A)

A bunch of our listeners are expats living overseas, and knowing what to do with your money can be a challenge. So in this episode James Ridley from Atlas Wealth joins Glen to talk through some listener questions around Aussies residing and working overseas. The convo touches on:

👉🏻Q1: I'm hoping to be an expat in the future, how would it work if I own an investment property in Australia?

👉🏿Q2: Is there a way to set up a business in a tax free haven?

👉🏼Q3: Should we keep contributing to Australian investment accounts or find an overseas broker?

👉🏾Q4: I'm a dual citizen of Australia and the US. I've never lived in the US, nor had a social security card, and worked in Australia for years. Do I have to report my Australian salary to the IRS each year and if so how do I report it?

👉Q5: Are there any advantages to being a dual citizen?

👉🏿Q6: I'm a new expat abroad, I have concerns about tax status and super. I have a government fund and can't pay into it - only the government can do that. Any tips?

👉🏽Q7: I'm living abroad with HECS debt, and an investment property. How do they both work?

👉🏼Q8: What is KiwiSaver and what do you do if you choose to move over to Australia? Same for the UK pension scheme?

👉Q9: I'm an Australian living abroad in Canada. What are the pros and cons of not being a resident for tax purposes (currently not because the tax rate is less here)? Paid HECS debt back, cut all ties but worried I'm not investing in super.

👉🏻and tips for patriation - how to prep for coming back to Australia

If you need some guidance with your expat situation, reach out: https://www.sortyourmoneyout.com/reach-out

Get $20 off The Glen James Spending Plan using the code "MAGIC". Link to course below!

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