Garden Variety Troll.....
Awesome site donor
Good for you. I didn't know about the 37% tax thingy.. that sux... & is worth considering if I ever decide to move OS... I think atm I might just do it part time & see how that goes for starters...When you're non-resident, you pay 37% tax with no tax-free threshold (although on a slight positive you pay no Medicare levy).
So, as my income has been from renting out my place in Sydney, after I deducted my costs (rates, strata levies, water and landlord insurance, ATO would then slug me 37% on whatever was left, it actually left me with less than half the rent my tenant had paid, for me to live on. That was effectively a 2% return on investment. Once I looked at it like that, I decided to sell. Offered it to my tenant, giving him a ballpark price (based on previous sales on the block), and said if he was interested to make me an offer. He jumped at the chance and made an offer I couldn't refuse, so we're both happy.
I figure if I can't get a 3% ROI or more in fully franked dividends there's something wrong with me. My short list of blue chips paid 6% last year (insert disclaimer about 'past performance' here). But I should be able to increase my budget by at least 50%, with the possibility of doubling or tripling it. I've been living on a
shoelaceshoe string budget for six years. Can't do it any more. Don't want to live in Australian again anyway.