Eddietopps

Hi All, I am seeking some advice and guidance please? We are permanently moving to Australia in May 2013. What do we do with our ISAs? I am of the opinion that as far as the Australian tax office is concerned it's a matter of when and not if the ATO learn of the UK investments so I would like to learn how best to get them into Oz efficiently? Can we transfer them to a SMSF (self managed super fund) or another tax wrapper type investment Down Under? If we leave them in the UK I suspect the ATO will not honour the UK HMRC tax wrapper? We will also not gain any dividend tax advantages credited to our tax payable? Thoughts and experiences most welcome please? Sent from my iPad using Tapatalk HD

Thanks GeorgeD. This makes sense. Would I re right in saying that it therefore comes down to declaring what my initial financial status is to the ATO from day one? Losses could be carried forward and profits (capital gains) taxed? <br /><br /> You pay tax on earnings...moving money isn't earning it. While it's sitting offshore, it's still yours, so moving it into Oz doesn't mean you have earned it. If you are an Australian Citizen or PR you are taxed on income worldwide, so the interest it earns sitting in a UK bank account should be declared to the ATO each year...moving it doesn't make it income...<br /> <br /> Someone else can give you a large sum of money and it still isn't taxed...thwre is no limit in Australia to the amount of money that can be gifted to you without tax...as long as it isn't in place of some other kind of income...for example, a parent can give you a million dollars if they want, just because you are their child. If a stranger gives you a million dollars just because they want to, and you give them your house, just because you're generous too...the ATO sees that as being a gift in lieu of payment, so it's taxable. Where you then keep it (in or out of Australia) doesn't matter... Sent from my iPad using Tapatalk HD

I originally came from a couple of hundred kms further west and we were brought up with them. Best to just be aware of them and where they could be. Respect them and they will generally avoid you. Kill them with care as an angry snake is worse to deal with. Sent from my iPad using Tapatalk HD

Hi Rupert, however I have one outstanding query on that approach? Couldn't this income i.e. moving what you needed be regarded as income in the eyes of the Australian Tax Office? I was under the impression, and yes I have not yet clarified it yet, that all income (monies into your bank account from external sources) post the move to Australia would be seen as taxable income? Can anyone clarify this or point me in the direction as to where I can find the answer please?

To the best of my knowledge, no unless it is new and then it will be taxed something along the lines of importers being taxed. Alcohol is taxed, as so we are not choosing to take any- trying to drink it all before we go...... Sent from my iPad using Tapatalk HD

Our quotes came in a little under £4,000.

We are deliberating between PSS and Anglo Pacific. They both have similar quotes of just under £4K for a 20ft container from Surrey to Brisbane. Looking into to try and leverage from their other services they offer? Any recommendations please? Sent from my iPad using Tapatalk HD

Has anyone considered taking out an account with HSBC, therefore having branches in both UK and Australia and maybe only converting what is needed into $AU, keeping the rest in a £UK sterling account with a view that the exchange rate may improve? just curious and all advice gratefully accepted?