10 most common questions asked by Australian Expatriates in Singapore

10 most common questions asked by Australian Expatriates in Singapore

26 February, 2021

Being an Australian Expatriate living in Singapore has its pros and cons. Though most of us love the exciting expat life and pay lower income tax rates than some of our colleagues back home we are still faced with incredibly complex financial decisions that may make or break our time whilst working offshore. Below I have listed 10 of the most common questions asked by Australian Expatriates in Singapore:

  1. Should I buy an investment property in Australia and if I do so then what are the tax implications as a foreign investor? Is it worth it?
  2. How do I maximize the returns on my Australian investment properties? Should my mortgages be negative, neutral, or positively geared?
  3. What is the best way to save towards my retirement and children’s education? Should I be sending money home or saving and investing offshore where it is more tax efficient?
  4. Should I take out Life insurance in Singapore or Australia? Which product will best suit my circumstances?
  5. Should I continue to contribute to Superannuation and if I do so then what are the tax implications?
  6. Why are guardian agreements crucial to the safety of my children whilst residing in Singapore?
  7. Do I need two Wills? One for Singapore and the other for Australia?
  8. What is the most cost-effective way to exchange currencies and to send money home?
  9. Is it safe to invest during Covid? Should I invest now or later?
  10. Should I sell or retain my vested company shares and if I choose to retain my shares then what are the risks involved?

These are just some of the complex questions we face as Australian Expatriates and in order to maximize our financial position whilst residing offshore it is crucial that we understand the implications of each decision.

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