Black Swan Capital Europe‘s David Bellingham important information for Australian expats living in Europe, including 3 core issues that can affect their financial life right now.
If you are an Australian internationals living in Europe and have been affected financially by the COVID-19 pandemic, you could be entitled to 10,000 AUD worth of superannuation. Before you head out to grab the money, you do need to consider the following:
- Do you truly need to access the money at the moment?
- What will the impact be on your long term financial goals?
- How can this affect your retirement planning?
#2. Capital Gains Tax
As of 1 July 2020, Australian investors living in Europe will no longer be able to wait 6 years before taxation on the property in their home country. If you reside in Europe and have Australian property you may now be required to pay Capital Gains Tax. It is best to speak with a local tax accountant to get the relevant information on how you could be impacted by this change. In case you need a nudge in the right direction, contact Black Swan Capital. They can guide the way!
#3. Other Investments
As volatile markets continue, investor focus should be more long term. Do not lose sight of your core investment objectives. Do not try and time the market as volatility is expected for another 3 – 6 months. Simply maintain your core objectives pre-pandemic to achieve those long term goals of yours.