Selling up and moving to Oz

[DebbieG]

Hi - can anyone help?

We are awaiting visas, as yet have no-where in Whyalla and are awaiting our house sale to complete here in UK, oh, and our flights look like being booked for 12th Feb!

Can anyone advise on whether we should leave the balance of our house sale here in UK, or transfer to Oz?

Would we be taxed on the transfer? I know the Australian Dollar is quite strong at the moment?

So difficult to know what to do - Thank you

[flossybeth]

Are your visas permanent? If they are then I don't see why you would want to leave your money in the UK - surely you'll need it at some point; but if you're being housed and set-up here then leave it till you need it and perhaps the exchange rate will go more in your favour at some point (although it's currently not looking too bad - certainly better than two years ago when we arrived).

 

Good luck with your final few weeks in the UK.

[DebbieG]

Thank you - 4 year visas, altho still not through and we are due to fly on 12th Feb. His work sponsors are so laid back about it, saying all the time "don't worry, it'll be fine" but then you here of people waiting for months! Maybe it's different cos he has a sponsor? Almost sorted with the house sale, altho still nothing concrete - hoping to exchange contracts soon with a completion date of 3rd Feb. Leaving do planned for 31st - omg!

[NicF]

Hi - can anyone help?

We are awaiting visas, as yet have no-where in Whyalla and are awaiting our house sale to complete here in UK, oh, and our flights look like being booked for 12th Feb!

Can anyone advise on whether we should leave the balance of our house sale here in UK, or transfer to Oz?

Would we be taxed on the transfer? I know the Australian Dollar is quite strong at the moment?

So difficult to know what to do - Thank you

 

You will not be taxed for transferring money from the UK to Australia. Whether you should bring it or leave it in the UK will depend on your circumstances and what you want to do. What I would do though is set up accounts with a number of forex companies (Moneycorp,etc) while you are still in the UK and make sure you have everything in place to allow you to transfer large sums of money from your bank account to the forex companies should you decide to transfer the money once you are here. It might be worth taking a sum of money for setting up over here for things like a car, deposit on a rental etc but the rest could stay in the UK if you wanted. No one can tell you with any certainty what will happen to the exchange rate so don't leave it banking on the rate going up, or move it banking on it going down.

[John from Moneycorp]

Hi - can anyone help?

We are awaiting visas, as yet have no-where in Whyalla and are awaiting our house sale to complete here in UK, oh, and our flights look like being booked for 12th Feb!

Can anyone advise on whether we should leave the balance of our house sale here in UK, or transfer to Oz?

Would we be taxed on the transfer? I know the Australian Dollar is quite strong at the moment?

So difficult to know what to do - Thank you

 

Moneycorp can help you with the timing of your money transfer - further information can be read here: http://www.pomsinadelaide.com/index.php?pageid=forex

 

Feel free to private message me for any assistance.

 

Thanks

 

John