LPR question

[Lexy 2]

I have 3 passports myself, completely legit.

Many countries have a double taxation treaty with the US (don't know about Australia, but most EU countries do). In fact, if you are getting income on a country where double taxation treaties exist, it is possible to actually pay less (because only the net income is taxed, not the gross, this is a major difference; there are tax credits, etc to reduce the gross). If you happen to have considerable income or other assets, you want to get an expert on this kind of things; otherwise it is possible to do it on your own, but it's tricky and hard, let alone prone to errors of interpretation; and IRS never ever forgets money you owe them.

You can also surrender US nationality anytime if you feel like is not working for you.

Australia also has a double taxation treaty with other countries including the US. It is true you can surrended the US nationality any time but not without an exit tax. My understanding is that you will owe money in tax even after you renounced your US citizenship - for a few more years actually. Uncle Sam will come and get you on your income, property, capital gains tax, inheritance etc etc etc... Not only that, your own child will inherit the citizenship meaning the little one will also pay tax to this country even if they have never lived here. Hence, coming back to your words "...IRS never ever forgets money you owe them..." Will my child curse me for the rest of my life? (the child I dont have yet ...hahaha)

I stand to be corrected but its crazy....

Anyway these are some of the issues some of my friends are questioning.

[Lexy 2]

Yeah I am feeling homesick too as Wayland is away so that does not help being here all alone with no friends or family I hate it. I like your analogy BAA And I know what you mean about narrow mindedness here in Augusta they are not too bad and I am accepted most places but like yesterday I was in the servo getting lottery tickets and the older lady was serving someone and the younger girl just ignored me as she was fiddling with scratchies and talking with the other customer too. When the older lady was finished she served me and was so nice. I have prejudice here with the young black women of a certain age. I am over the south that's for sure and did not think I would ever say this but craving an Aussie accent thank God I have Lyndal to chat with now and then. Don;t get me wrong I love the yank accent but the southern one is draining after a while. You know one of Way's cousins said that to me " there is no place like home America" I went off calmly lol and stated to her you cant make that statement as you have never lived anywhere else and she said yes I have lived (get this) Jamaica and Honduras Oh please so you are comparing 3rd world countries to America when you have never seen Australia or England or Europe. She is from NY and she is the reason why NYorkers get a bad name of being loud and obnoxious.Her son was offered an school exchange in Japan next year and she wont let him go .

You are right Lexy we have a while to think about it yet.

I am craving an Aussie accent too. Where I live, people love to hear me speak and tell me to never chance my accent lol. Sometimes they do not understand certain words of mine, like - surname and fortnighly. They don't know what they mean.

Like you said, that lady needs to live in other parts of the world too - like Australia and Europe to make a comment like that.

[Lexy 2]

I have decided to take my time regarding naturalization and not do it this year. I want to make sure I feel 100% comfortable instead of being rushed.

Do you think I am making a mistake?

[VanessaTony 3,567]

I have decided to take my time regarding naturalization and not do it this year. I want to make sure I feel 100% comfortable instead of being rushed.

Do you think I am making a mistake?

It's not a mistake to do what you feel is right... that said, I'm hoping to apply as soon as I am able. My main reasoning being I want to be free to move back to Aus and not worry about immigration. My dad isn't exactly healthy and I'm hoping he lasts for a couple more years yet but I would like to be able to travel without being worried about my immigration status here. I think about having kids and am still not sure whether I want to do that here in Aus but I would like the freedom to make the choice without worrying about immigration timelines anymore!

What are you feeling rushed about specifically? If you're not comfortable becoming an "Australian American" yet that is totally your prerogative

[Lexy 2]

It's not a mistake to do what you feel is right... that said, I'm hoping to apply as soon as I am able. My main reasoning being I want to be free to move back to Aus and not worry about immigration. My dad isn't exactly healthy and I'm hoping he lasts for a couple more years yet but I would like to be able to travel without being worried about my immigration status here. I think about having kids and am still not sure whether I want to do that here in Aus but I would like the freedom to make the choice without worrying about immigration timelines anymore!

What are you feeling rushed about specifically? If you're not comfortable becoming an "Australian American" yet that is totally your prerogative

I do understand where you are coming from and it is good reasoning, I felt the same way too about traveling and not worry about immigration status etc... But being taxed anywhere I go is weird, I have not come to grips with that concept yet. Plus the inheritance tax is a doozy.

I just need more time to think about this, and then in 2 yrs if I am still around I will have another chance I suppose.

Edited April 29, 2012 by Lexy

[VanessaTony 3,567]

I do understand where you are coming from and it is good reasoning, I felt the same way too about traveling and not worry about immigration status etc... But being taxed anywhere I go is weird, I have not come to grips with that concept yet. Plus the inheritance tax is a doozy.

I just need more time to think about this, and then in 2 yrs if I am still around I will have another chance I suppose.

True true. You're not sure if you're gunna keep your GC? 'cause even with a GC you are taxed wherever you are (say you move back to Aus for a year and get a re-entry permit you still need to file US taxes).

Inheritance tax you say? I might look into that

**Edit - Looked into it. So it's called the Estate tax here and the exemption rate is pretty decent! I doubt I'm inheriting more than $1mil anytime soon

Edited April 29, 2012 by Vanessa&Tony

[Lexy 2]

True true. You're not sure if you're gunna keep your GC? 'cause even with a GC you are taxed wherever you are (say you move back to Aus for a year and get a re-entry permit you still need to file US taxes).

Inheritance tax you say? I might look into that

**Edit - Looked into it. So it's called the Estate tax here and the exemption rate is pretty decent! I doubt I'm inheriting more than $1mil anytime soon

I guess you can keep your GC and then renounce it and not have a tax exit fee. With an US citizenship you have a tax exit fee of 5 years or is it 7 years now? So you are paying tax for the following few years after giving up your US citizenship. I am not clear on inheritance tax yet, still digging for info.

Edited May 2, 2012 by Lexy