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Ken last won the day on September 28 2016

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About Ken

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  1. Ken

    Capital Gains Tax

    I'm assuming you now live in Australia? If so when did you move. Did you live in the UK property before moving? Have you purchased a property in Australia? Sorry for all the questions but it makes a difference to your CGT liabilities - for example for Australian tax you can claim the UK property as your principal residence for up to 6 years after you stopped living there if you haven't bought a property in Australia. You also only have to pay tax on half the gain (where you owned the property for more than a year) that you got after moving to Australia (or after 6 years of it ceasing to be your permanent residence if applicable) and can deduct the UK tax paid on the gain from the Australian tax due. In most cases one or more of the rules means that you can have no Australian CGT to pay. For UK tax, as a starting point take a read of Alan Collett's Article on this website "Living in Australia and Selling a Property in the UK? Watch the UK's Capital Gains Tax (CGT) Regime for Non Residents"
  2. Ken

    What’s the best solution?

    A fee on a $500,000 transfer might only be $10 but an exchange rate difference could easily be $10,000.
  3. Ken

    The (all new) Brexit Thread

    Yes, it was a bit like having the Titanic sail into New York harbour at the end of the movie (that's what everyone thought the producers of Titanic would have happen if they changed the ending based on test screening as so often happens). Be interesting to know if there was an alternative ending to Once upon a time in Hollywood that was dropped after test screening or if that was the script all along.
  4. Ken

    The (all new) Brexit Thread

    Despite the fact that employers are supposed to verify that employees are legal, many manage to get jobs (via false documents or stolen identities for example). They can't claim to be exempt from tax because they're illegal.
  5. Ken

    The (all new) Brexit Thread

    The Supreme Court is made up of elderly people. Should a pandemic come along that happened to be more dangerous to elderly people (what are the chances of that happening right now?) there might be a sudden need to replace the members of the Supreme Court. Care to guess who gets to choose who to put on the US Supreme Court right now? No, it's not @BacktoDemocracy he'd be far too neutral.
  6. Ken

    UK Frozen Pensions

    I really don't see the British government making any unilateral changes however illogical the situation might be. They want the Australian government to pay a larger share of the pensions of Australians in the UK in return for their paying a larger share of the pensions of Britons in Australia. The Australian government aren't willing to do this (because they'd have to do the same for Australians worldwide) so nothing is going to happen.
  7. Ken

    The (all new) Brexit Thread

    Business leaders? I can't help but wonder exactly how much the combined turnover of the four businesses they lead adds up to. Probably not a enough beans to call it a hill.
  8. Ken

    The (all new) Brexit Thread

    Has to be said though that a period when international trade has seized up due to COVID-19 is the best possible time to have an event like Brexit that will disrupt international trade. It's like having a car crash while stopped at a red light compared to having a car crash while driving at 70mph - still not good but far less damaging. And yes, Brexit will be a car crash.
  9. Ken

    Is it safe??

    You've hit the nail of the head there. In investment terms it's "diversify your portfolio" or as the old saying goes "don't put all your eggs in one basket". But do remember this discussion is about transferring money it's not about depositing it somewhere so it's not actually going to be sitting in an account anyway.
  10. If I looked like a horse drawn cab instead of being handsome I'd be delighted to have the opportunity to cover my face!
  11. Ken

    Is it safe??

    Since we are talking about the proceeds of a house sale I would expect it to be over the amount of the government guarantee. Just leaving it all in one bank is therefore exposing you to risk. By transferring some of it you are mitigating that risk.
  12. I've just received an email from SBS On Demand advertising their recently added content:- "The Iron Lady - Meryl Streep won an Oscar for Best Actress in this intimate portrait of Margaret Thatcher, the first and only female Prime Minister of the UK". Well that's clearly wrong but is it down to SBS for inadequate research or to Theresa May for being such an inadequate PM that SBS haven't heard of her? Recently added Poh & Co. S1-2 More than just a show about food, this series invites you into the warm and delicious embrace of acclaimed cook, artist and lover of life - Poh Ling Yeow. Watch Now The Iron Lady Meryl Streep won an Oscar for Best Actress in this intimate portrait of Margaret Thatcher, the first and only female Prime Minister of the UK. Watch Now
  13. Ken

    Is it safe??

    Money that is held in a client account is 100% still the property of the clients if a business goes bust and can't be used to reimburse other creditors. Of course when a firm that is supposed to keep client money's in a client account goes bust what you sometimes discover is that the firm has been siphoning funds out of the client account. There's always a tiny risk (no matter how well run and audited they've been in the past) that a firm will start doing fraudulent things. But that applies to Banks and Solicitors not just to money transfer companies. Technically you can't say there's no risk from using a money transfer company, but what you can say is there's no more risk than using a Bank.
  14. Ken

    The (all new) Brexit Thread

    Despots and dictators are just politicians by alternative means. Not surprising if they have the same defining characteristics.
  15. Because the UK is a signatory to the UN Convention on the Reduction of Statelessness (1961) and this has been incorporated into British law. The UK would have to officially withdraw from the Convention in order to change the law (not impossible but withdrawing from a UN Convention would cause all sorts of diplomatic rows).