I have been offered employment with my company in Perth on a Long Term Business Stay Visa basis(assuming the application is successful). My wife and I are currently expats in Africa and have been for a number of years. We have 1 property in the UK and 1 in Ireland, both mortgaged neither of which we will sell if the Perth move goes ahead. 2 questions: 1. If we wished to buy a house in Oz as temp residents can we get a mortgage; and 2. What is LAFHA??
yes you acn purchase property as temp residant, it has to be reviewed by the foreign investments board but as long as it is for your domicile i think it is a rubber stamp process.
Mortgage: one lender tells us no; annecdotally we hear we can. even a credit card is not available here for 6 months!
beware your properties in other countries. get financial advice before you leave. you will be taxed on any amount you receive in rent that is not swallowed up in costs. it may be better to remortgae in Ireland and Africa and bring that money over to buy with cash. speak to a financial person who knows australian tax law, it is very specific and fluid regards foreign investments. latest changes were in Feb this year.
LAFHA allowance is 'living away from home allowance'. this is where your employer pays you a wage and a disturbance allowance. the allowance is through the normal pay route and so is taxed. come tax time you can reclaim tax paid on the LAFHA. you cannot clai you pay includes LAFHA unless your employer structures your pay like that. if it is offered i cannot imagine why you would not take it.
