arriving soon info needed

[Guest obi93733]

We will be arriving on June 13th and are not sure what to do with money we have in the bank here in the UK, exchange rates at the moment are really low, so as we will be renting initially we do not need access to all our funds straight away.

 

Can any one advise what they suggest we should do we will have around £50k to transfer, should we leave it where it is and hope the exchange rate improves or just sod it and transfer it over and get it earning interest in the bank in Oz???????

 

 

Could anyone give us any feedback on Port Noarlunga primary school, our daughter has taken a fancy from what she has read on their website, but comments from anyone who has children there would be great...if she goes there our son would need to go to a nearby senior school, again any feedack on possibilities would be helpful.

[Guest graandjac]

We just moved the money over to take away the stress of keep looking at the rates . You can get 8.4% interest on your money if you put it away for over 4 months at the moment over here .We put ours away for 5 months and got 7.8% 3 weeks ago .

 

Cheers Graham

[Guest cunnah10]

We will be arriving on June 13th and are not sure what to do with money we have in the bank here in the UK, exchange rates at the moment are really low, so as we will be renting initially we do not need access to all our funds straight away.

 

Can any one advise what they suggest we should do we will have around £50k to transfer, should we leave it where it is and hope the exchange rate improves or just sod it and transfer it over and get it earning interest in the bank in Oz???????

 

 

Could anyone give us any feedback on Port Noarlunga primary school, our daughter has taken a fancy from what she has read on their website, but comments from anyone who has children there would be great...if she goes there our son would need to go to a nearby senior school, again any feedack on possibilities would be helpful.

Hi

We will be arriving August/Sept and hope to start the kids in school also asap (4,7,9 and 11)

WE have been told Seaford High school has fantastic recommendations!

 

Why don't you click on their website it looks and sounds great!

 

Gill

[Andrew from Vista Financial]

Hi Obi

 

Regarding your money in the UK, a consideration to be taken in to account as to whether to bring this money over will also be your residency type, there could be some tax advantages of leaving it in the UK.

 

Andy

[Guest obi93733]

Hi Andrew

we are coming over on a PR visa, i have a job to start and are going to be renting for 6 - 12 months untill we find where we really what to be.

[Andrew from Vista Financial]

Ok, so if you left it in the UK you will be assessed on the interest that it generates at your marginal tax rate here in Australia.

 

As Graham said the rates achievable here on deposit accounts are around the 8% mark so clearly higher than the UK. So it just boils down to the exchange rates really.

 

I noticed a thread recently on here about an option with HiFX. Here is a paragraph from it.

 

Some clients choose also to adopt a hedging strategy by fixing some of their currency now to protect themselves against a drop in the rates, but also giving them the opportunity to take advantage of any upturns in the market. Perhaps send it over in 2 or 3 lumps, thus spreading the risk a little bit, and using a “market order” (which is essentially an automatic buying tool at a predetermined rate) in an attempt to achieve any spikes in the rate.

 

Might be worth considering also.

 

Andy