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Tips for modelling foreign income, investments and residency

Modelling foreign income and investments is outside the scope of Pathfinder's standard modelling.  This page has some possible workarounds, but they aren't guaranteed to fit what you need to model and  you should very carefully check the results to make sure that they are appropriate.

Modelling a foreign resident for tax purposes

By default, Pathfinder only applies tax rates for Australian residents, and modelling an individual who is a foreign resident for tax purposes is outside the scope of Pathfinder's online modelling.

If you wan to apply the foreign resident tax rates, then you can submit your case to our Strategy Development Service (SDS) for an additional charge. For more see Optimo Financial SDS

Modelling tax-free income without the super guarantee

If you want to enter income and do not want Pathfinder to calculate the tax or super guarantee, then:

  1. Go to the Cash flows sub-step (under the Cash flows & Goals step on the top menu)

  2. Add an income with Type of 'Non taxable'. Pathfinder applies default (e.g. tax status, super guarantee) based on the 'Type'. To see the full list types and their default values see the Income page.

Adjusting the tax status of properties

For existing investment properties, it is possible to adjust the tax status of the capital gains, income, and running expenses:

  1. Go to the Current situation > Assets & loans step

  2. On the main form for the property, click the Advanced options section and use the fields in the Tax status section to make the adjustment.

Adjusting the tax status of assets and loans

On many items, there are fields that let you adjust the tax status (they may also be called 'deductible' or 'assessable'). They are usually pre-filled with the Australian legislative default, but you can adjust them.  If you would like to adjust the tax status of an item, but can't find a field, please Contact Optimo Financial, and we'll see what we can do, 

Keeping track of foreign currency amounts

Pathfinder only models in Australian Dollars, so you'll need to convert any foreign amounts to AUD. However, in the field Name, you might find it useful to put the amount in the original currency. You can also put your conversion calculations in the Scenario Notes in the Cash flows & Goals step.

Exclude Australian government benefits

By default, Pathfinder will calculate many government benefits, but it is possible to exclude them from your analysis:

Keep an eye on tax calculations

If you're trying to model cash flows after tax, check the tax reports, to make sure Pathfinder isn't calculating tax on something unexpected. You may need to Contact Optimo Financial if you need assistance switching off a tax liability, although we cannot guarantee that it will be possible.

For more about reading the results, see Tax results (Individual and super).

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