littlehippy

Husband earning in oz since the day we arrived in November. Technically I'm on holiday here as working in uk and still paid by uk (on maternity leave). I have dual citizenship. If we move joint money over now, does my husband pay CGT on the increase in value due to sterling rising against dollar? If so, I assume it's on his half of it? Can he give it to me to transfer in my name (is there a personal limit). Need to move over life savings to buy a house and need to know what will actually be available for buying the house after tax liability is met. thanks.

thanks - I tried what you suggested but didn't give me what I'm after! possibly something in a thread that is 326 pages long, though, but nothing obvious.

anyone use someone that was good?

new employer paying for some air freight, need to get insurance. Any recommendations for not to expensive insurance company? the freight will go with pickfords and consists of a couple of items worth £2000 and then just clothes and kids stuff collectively worth £1500. Thanks.

[pulling up a chair to wait for the reply to dsainsbury above]. Interesting! I'm just starting to think about moving my UK pension to Australia. Timely and entertaining thread...

Moved £25k. Got 1.6705 with CBA (TORFX was offering 1.6703). So I suppose that's better than we were expecting when we looked into it at the start of the year. Hope the pound moves the right way against the dollar!

was ready to go ahead today but some issue with the account. so tomorrow it is...eek!

thanks - yes, I'm not expecting anyone to tell me exactly what is going to happen. I was just wondering what other people's fingers in the wind are telling them. I think we will actually transfer £25K now and then the rest next year as we don't need it all straight away as we will be renting for at least 6 months.

getting itchy about making the transfer of our life savings - must be done before 12 November. I'm thinking wait until november. Anyone else want to make a guess?

Hi Andrew My broader financial questions might warrant a private message, if that is allowed. I am dual national, born australia but living and working in the UK for 20 years. I am coming to the end of my 16 years military service and returning to Oz with my husband and 2 kids. I will be in receipt of my military pension of approx £11k from next June and expect to receive my tax free gratuity of about £30 at about the same time. As you will well know, the pension is not index linked until age 55 (16 years away, holy cr*p I'm old). I have an australian tax file number somewhere in a file on a boat approaching fremantle. Not sure if that is in any way relevant, but I believe somewhere there is about $120 in an AMP super fund (ie I already have something with my name on it), dated about 1997 I should think. I will not be working in oz until at least 2015. And after that I hope to work part time for a further few years before returning to full time (and a super input from employer). My earning power is a bit unknown as we are not going to be in canberra or sydney, but in the UK I would realistically earn £40-60k full time if I stayed. But I realise I have no super and at 39 I am very concerned about this. What are my options with my pension? Apart from the £30k, I have some additional savings of my own I can add if there are any one-off lump sum super events that my dad has talked about. Grateful for any advice.

Rupert, thanks for your reply and advice which helps to clarify our situation. I will not be an Australian tax payer until 1 June 2014 because I will be UK taxpayer until then - fully employed by the UK govt but on maternity leave, so technically I will be on holiday in Australia and will be returning briefly to the UK in May to finalise my UK affairs. My employment with UK govt terminates on 31 May 2013. My husband will be an Australian tax payer from 12 November 2013 because that is the day he becomes a full-time employee of the Australian government. So my situation and my husband's situation are not identical. I am not emigrating to Australia on a visa, I am an Australian citizen returning home after 20 years in the UK and travelling on an Australian passport. My husband is emigrating on a work visa (permanent) and will be provided with his Australian papers by the High Commission in London on the day we fly out - he is joining the RAAF. And I will not be employed in Australia for at least my first 12 months in the country - I have a toddler and a baby and will be staying at home and not earning.

Anyone? Sorry, I am finding conflicting information (or confusing and seems to be conflicting) on the australian tax website which I am reading as saying that CGT not applicable at all because exempt CGT in UK, and then elsewhere saying CGT applicable on increase on increase in value/profit calculated from the date of being an oz tax payer (and worked out in dollars).

Sorry forgot to say - I have dual citizenship UK and Australian (resident UK 20 yrs) and hubby is coming over on a permanent visa I believe through work but obviously if not he can get that through me in time.

My husband and I are moving to NSW on 12 Nov, which is the day he starts to be paid by the Australian govt and becomes an Australian tax payer. I am travelling with him and our children but I will continue to be paid by the UK govt until 1 June 2014. So presumably I will be a UK tax payer until then. Our house is on the market in the UK. We are not liable for CGT as it has been our main residence. It is in joint names. We have a rental house in NSW but intend to buy within the first 12 months. If it sells after 12 November, what CGT will my husband have to pay and to whom? From my googling so far, I think he will pay nothing to the UK govt but might be taxed by Australia if we buy within 6 years of arriving or I am totally confused? Also, it seems that he will have to pay only the increase in value on the property since arriving in Australia (including exchange rate fluctuation). And if we rent the house out and then sell in 12 months time, does he pay income tax on that in Oz and me in UK? Very grateful for any help. Someone has put in a silly offer on the house and we need to know whether to accept tomorrow morning on the grounds that if we reject it and hold out for a higher price, any increase will be partly wiped out by hubby having to pay CGT in Oz which he isn't liable to here. Many thanks.