Premium Bonds

afiyafifi · 29-04-2008, 10:45 PM

Hi was just wondering what do i do with my premium bonds ... can i take them over or should i cash them in ... thanks karen

MACDONALDO67 · 29-04-2008, 11:15 PM

I too have PB's and I contacted NSI to find out what the score was.

They said no problem. You can take them over. All they need is your forwarding address to they can send the winning cheques out.

Only thing I wanted to know, and forgot to ask, was how many days extra does it take for the cheques to arrive. For the small wins they arrive here in the UK around the 18th to 21st of each month but in Oz I don't know?

I don't know if Australia does a type of Premium bond scheme. May be the people on this forum already living there might help?

Quoll · 29-04-2008, 11:37 PM

Yup had my premium bonds since they were first issued and never had a win even though they do have my current address - do you think the cheque may have gone missing in the mail?????

No we dont have premium bonds but we do have a thriving weekly lottery - several of them in fact and almost every day of the week from one state lottery or another! Great nation of gamblers we are! I think premium bonds would be a good way to go - maybe someone should have suggested that in the 2020 summit. You may have seen people here referring to Tatts - that is the big Victorian lottery but there other state ones as well. Many folk buy their "Tatts ticket to dream" every week

Mike and Connie · 30-04-2008, 12:44 AM

Hi Karen
Yes there is no problem about keeping your PBs. You need to advise NSandI in writing with your customer number, you can get a form from the PO in the UK.
Prizes seem to arrive here in Oz around about the 20/21 of the month, although you can check if you have won anything on NSandI website after about the 5th of the month.
M and C

AndyJo&Lewis · 12-05-2008, 04:43 PM

Hi,
Does anybody know if UK winnings from Premium Bonds are except from tax in Australia like they are in the UK?? In other words, would a Premium Bond win from the UK be classed as a source of income in Australia??

Any input would be appreciated,

Thanks

Andy

shazney64 · 12-05-2008, 05:49 PM

Karen you ok? not sure about bonds but wanted to see if ok? xxx

Mike and Connie · 13-05-2008, 03:06 AM

Hi Andy
I'm not sure about whether the actual winnings are considered as "income", I personally doubt it would, but certainly once you bring the money over here then the interest on the win will be taxable. That's the reason why we just re-invest any winnings we get back into PBs. This can be done automatically. Instead of the prize money arriving they send the new certificate. Increases the chance of winning one of the big ones.
Regards
Mike

AndyJo&Lewis · 13-05-2008, 01:56 PM

Hi Mike,
Thanks for the reply, sounds about right. I would certainly like to know for sure though, not sure where to find out?
Thanks anyway,
Andy