DEPARTING AUSTRALIAN SHORES WITH PEACE OF MIND

Financial Preparation for your Time Abroad

Becoming an Australian expat and departing Australia’s shores can be one of the most challenging and rewarding opportunities of your lifetime. Our team at Ally Wealth Management will work with you to ensure that all of your personal financial affairs in Australia are set up correctly for your move abroad. We’ll also ensure you have the vehicles and strategies in place whilst you’re offshore to make the most of your wealth creation opportunity.

As part of our personal advice for our clients considering a move overseas, we will walk you through step-by-step the recommended changes and action items to implement. Some of the key items to consider when you’re considering moving abroad includes the following:

Superannuation

We’ll review your superannuation to ensure that your nest egg continues to work hard for you whilst you’re offshore and advise you of any required changes considering your new tax residence.

Contributing from abroad?

In most cases, you will still be able to contribute from your new country of residence, however it’s important to consider if this is the right option for you.

Life Insurance

Our team will review your life and other personal insurances to consider the implications of your offshore move and whether you'll still be covered or whether your policies require any changes.

Have employer cover?

Company-sponsored life and disability insurances can be a great perk of employment, but it’s important to avoid leaving yourself exposed here.

Health Cover

It's important to ensure that you have the right health protection in place, particularly if you're relocating with your family. We'll help you consider your options and connect with you insurers abroad.

Have pre-existing conditions?

If you have pre-existing conditions, it’s important to consider your options, not just for your move abroad but also in planning for your future repatriation.

Investments

We’ll analyse your existing investments to ensure that they remain suitable for your needs. We’ll also walk you through key portfolio considerations for Australian expatriates.

Deemed disposal?

It’s important to consider your options and the tax implications when it comes to retaining your existing investments if you’re planning to relocate to another country.

Financing

Whether you only own your own home with a mortgage, or have a portfolio of properties, with we can work alongside your chosen mortgage broker who can provide you with a suitable finance option as an Australian expat.

prepaid interest?

As a non-resident of Australia for tax purposes, if you have a positively geared property one option to consider could be prepaying interest on your mortgages.

Property

Whether you’re looking to refinance or invest in Australian property, we’ll work with your chosen mortgage broker who can provide you with a suitable finance option as an expat.

negative gearing for expats

A negatively geared property in Australia can be an option for Australian expats to consider as part of their wealth creation journey.

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Global Advice for Australian Expats

Our team at Ally works with a number of other financial planning firms across the globe that share our philosophy of being true financial allies for our Australian expat clients in providing holistic, transparent and tailored personal financial advice.

Working with clients in many countries across the globe, there is a strong likelihood that we will be able to provide you with tips and insights for your new country of residence, as well as connect you with new groups of friends where possible.

If you’re looking to relocate to Singapore, be sure to download our Repatriation Guide for Australian Expats in Singapore, which is packed full of helpful tips and insights that are regularly updated by our team. Over time, we will be seeking to add relocation guides for other countries also to ensure that we can continue to add value for our Australian expat clients.

Did you know that the average Australian expat salary in some countries can be as high as US$200,000 per year..?

Ally Wealth Management’s founding team are Australian expats, so we know firsthand just how daunting and personally challenging a move overseas can be, particularly for those Australians that are considering departing Australia for their first overseas stint.

We strive to ensure that our clients can have the peace of mind in knowing that while there will be many surprises and challenges that arise as part of their expat journey, their finances not being properly structured will not be one of them. Reach out to our team at Ally Wealth Management to book in a time for your Pre-Departure Assessment where we will walk through the options that you need to consider for your personal finances.

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