Sign in to follow this  
Guest LOUISE HANNAH

Money Matter

    Recommended Posts

    Guest LOUISE HANNAH

    Hi, we are moving out to Adeliade in August, we have our house up for sale at the moment, but would appreciate advise on what we should do with our money once the sale has gone through. With the exchange rate as it is at the moment we were thinking of only bringing around 20k with us, but if we leave the rest do we get taxed on it etc, not sure how it works???

     

     

    Louise

    Share this post


    Link to post
    Share on other sites

    my understanding is you have 6 months to transfer the money with out tax, there after you pay tax on any gains on the amount. Hopefully someone will explain better

    Share this post


    Link to post
    Share on other sites
    Guest BAZnDAF

    If there is one thing in life you can be assured of its that you will pay tax... best bet is to contact an australian tax firm dealing with migrants and overseas monies...

    Share this post


    Link to post
    Share on other sites
    Guest graandjac

    Something else to think about is, and i've been chatting to Ian B about this and we were thinking if interest rates keep going up as they do in oz maybe taking your (and us soon) money out there now will surlely earn a good rate of intrest if put into the right account:idea:, or is this too obvious. Cheers Graham

    Share this post


    Link to post
    Share on other sites
    Guest banjo70

    Hi,

    I think it depends on what visa you are on. If you are on a perm visa you have the six month limit. If you are on a temporary one like a SIR then you are not subject to tax as at present as this tax only applies to perm residents.

     

    What ever you do - fill in a P85 form and sent it to HMRC you may get a tax rebate, and also change the status of your saving so that you don't pay tax on the interest, it can make a big difference on how much interest you earn in the UK.

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now

    Sign in to follow this