gra001

Thanks for the response, appreciated.

Yes, we investigated setting up an account in the UK, as you say that was a non starter. I understand your "swings and roundabouts" but with IHT at 40% making use of the 7 year rule seems a no brainer.

Because of Inheritance tax I want to start the 7 year clock ticking, exchange rate is bad currently so it can sit in a sterling account until the rate improves. Because of Inheritance tax I want to start the 7 year clock ticking, exchange rate is bad currently so it can sit in a sterling account until the rate improves

Ta for the response, I already transfer funds between the two countries, I'm trying to establish if she will be able to hold a sterling account in Oz.

Hi Guys, my daughter is now an Oz citizen (I'm a UK resident) and I wish to gift her some money. Can Oz citizens hold a sterling account in Australia so that I can transfer direct without exchanging to $AUD?..Thanks.

Hi, in Oz from the UK and have had reason to visit docs for prescription, my understanding is that I can reclaim part of docs fee via Medicare but not for the medication charge. Also, had to call 000, again I think there will be a charge which is not reclaimable via Medicare, however, is there any form of reciprocal arrangement between UK and Oz to cover this?....thanks

Hi, I'm just starting a 6 month stay in Oz. Before departing the UK my GP explained that due to cutbacks in the NHS they are only allowed to provide prescriptions for three months medication (in my case for hypertension). However, if I apply online having been here for, say, 3 months the GP will provide a further prescription to cover the rest of the stay, my son can collect from the UK pharmacy and send to me. I'm aware there must be import restrictions on certain substances but does anybody know if this type of medication will be OK? Thanks.

I spend between 3 and 6 months in Oz each year and have no prearranged medical cover whilst there. My private cover here in the UK includes repatriation but the insurance costs are crazy, increasing each year with high excesses even when no claims are made so I'm considering cancelling. Thought I'd canvass the opinion of the pomsinoz collective to find out how you guys approach this situation...thanks.

You're right Andy, had a chat with NAB earlier this afternoon, I was hoping a Term Deposit account in sterling would give me the interest rate quoted on their website....not the case.

Guys, just posted in the NAB section but thought it best to canvass the collective thoughts of the pomsinoz people so i'm asking here as well. I'm a UK citizen and my daughter now a citizen of Australia. Up until a few weeks ago I planned to fund an apartment in Oz which would be purchased by my daughter and owned by her (in her name), however, Brexit and sterling going through the floor has put it on hold until the pound regains strength, whenever that might be. With very bad interest rates in the UK I'm considering moving funds (Sterling) to a more attractive account in Oz, opened and run by my daughter to purchase the property in future. Pros and cons welcome...thanks.

My two boys love watches, just back from New York where I bought my eldest son a Submariner and waiting for delivery of the same for my youngest who is UK based. So, that leaves my daughter who is not so much a watch nut but I figure it's a lovely thing to have and will remind them all of their old man.

Guys, I'm going to buy my daughter (Aussie resident) a Rolex in the UK and take over when I next visit. Some are telling me I'll need to pay an import tax and others that I can reclaim the VAT.......advice welcome, thanks.

yes, I am here on a visitor visa.

No joy online, went to the office and all sorted, for this stay at least. When I return to Oz i need to go back and register again.

think you are probably right as I can see no way of registering online so sent them an email to ask. Will definitely reply on this thread and let you know how I get on.

Thanks for continued help, a friend commented that I can register online instead of making a trip to their offices so I'll give that a go.

Thanks guys, no Medicare card so will go to their offices and register. Even if I can't recoup from this docs visit it's probably worthwhile doing as I regularly visit Oz.

Guys, I'm in Oz for three months (from the UK) and now have three weeks left. Realised I hadn't bought enough medication with me (my fault) so had to go to the docs for a prescription and then the pharmacist to get it made up. Total cost circa $150, can I claim this back. Didn't extend my private health cover, my understanding being there is a reciprocal arrangement between the UK and Australia. Many thanks.

Ken, many thanks it looks like we have the answer.

Yes, your first sentence is backed up by the FIRB and I have no desire to misrepresent. My intention would be to gift the funds to my daughter (we have a strong relationship☺!) and, of course, the property would be in her name. My understanding, and an important benefit, is that by gifting, so long as I survive 7 years the funds would be outside of my estate for UK inheritance tax purposes.

Yes, I would be happy to do that and can't see anything on the FIRB website that prohibits this, as far as you know, is this acceptable? I wouldn't want either me or her to be in breach.

Guys, I've already received help with a few questions I've raised regarding me spending 6 months of each year in Oz (Manly NSW to visit my daughter, who is an Oz citizen, and her family). I've considered leasing via a real estate agent and taking a holiday rental, it also has been suggested that I might like to consider purchasing a property here. So, I've browsed the FIRB website and this does not seem a straightforward option, for example, by the time the buyer has notified them of a possible purchase and received a response it has most likely been sold to someone else. Anyway, advice from the "pomsinoz" collective please on a UK resident buying a residential property in Oz. I will, of course, talk to a financial advisor in the UK. Thanks!

Thanks all, very helpful. As "Marisawright" mentioned it maybe prudent to purchase a property in Oz so that is my next task, to investigate the possibility. I shall post a new thread and hope to get help with that option but browsing the FIRB website it does not look straightforward!

Guys, your help given previously has advised the best way for me to visit for 6 months each year is using the subclass 600 visitor visa, I fail the balance of family test. So, a few questions: 1) is there a reciprocal arrangement between the UK and Oz regarding health care, if so what does it cover and is it generally recommended to obtain additional cover. Advice on what I should get? 2)the plan us to spend the UK winter in Oz so, in terms of the best weather (I know this is difficult) should I go for Nov to April inclusive or Oct to Mar inclusive. 3)I'm guessing leasing a property via a real estate agent whilst based in the UK will present difficulties (inspection, early booking not possible etc) but will be cheaper than a holiday let which could be booked early with no logistical issues but may be quite pricey! Comments, views and suggestions much appreciated. Thanks!

Thanks!