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KTM1963

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About KTM1963

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  1. KTM1963

    Financial Implications Oz to UK move

    Hi all, I returned to the UK last Feb 2017 to test the waters after nearly 28 years living in Australia (Melbourne). Love it. Got a job straight away (finance) put my unit in Melbourne on the market last December 2017 and sold quickly with the settlement last month. Transferred profit with Torfx, brilliant customer service and struck as the rate was high and no tax implications at all as long as it was your primary place of residence and not an investment property. Just finalised my final tax return and will get a decent refund and only worked July 2016 to Feb 2017. Have my Super there but can access at 59. Hope this helps. I had felt unsettled for several years and so glad I did it. (Single, no ties, so easier). Europe on the doorstep is a bonus and living in a small city again (Worcester) is fab. Waiting for a date on house I have bought. Mortgage free too! Way to go!
  2. KTM1963

    exchange rates

    I did speak to a TorFx account manager who is aligned to my account this week. All previous transactions between Oz to my UK bank account (Lloyds) have been between $300 to $1000 each time. Never charged a fee and a better rate than the bank and funds there within 2 days which was fine. When I told him I had profit from the sale of my house, he advised paying the money to them and they would strike when rates hit a high, all of course dependent on Brexit talks etc....or to do a forward contract which locks in a particular rate for a month. No mention of any fees for transferring a large value but will check again. Only here until next Friday so time is limited. May open up another account with Moneycorp but could do on my return. Offer accepted on a house in the UK so won't need it for 3 months and leaving in a 2.51% account with CBA til then. Will keep you posted.
  3. KTM1963

    Financial Implications Oz to UK move

    I sold my property in Melbourne recently and just arrived back this week after having a year back in the UK. Settlement 9 March 2018 so madly clearing out, and only back for a short time. Profit from house sale isn't taxed if your principal home. Checked with my accountant and ATO. Lived in Oz nearly 28 years but love being back in the UK (Worcester). Work easy to find, everything working out really well and so much happier. Has anyone transferred large sums of money recently? I will probably use Torfx as their rate is higher than the banks and free to transfer and have been transferring small amounts to my UK bank account for a couple of years with no issues Just a tad anxious as my whole life is wrapped up in this one transaction. Any advice greatly appreciated.
  4. KTM1963

    exchange rates

    I returned to Melbourne last Monday as I sold my unit and now clearing it out before settlement on 9 March 2018. Returned to the UK last February 2017 for a test year and love it. Lived in Australia nearly 28 years, more than half my life, have had a wonderful time but end of a chapter but will always visit. Has anyone recently transferred large amounts of money, and who did you use. I have been using Torfx over the last 2 years to transfer small amounts to my UK bank account and their rates and service have been great. Just anxious I guess, as the money represents my whole life. Just a bit scary.
  5. KTM1963

    Cost of living in Melbourne

    Plentiful schools are there too Heading to Melbourne in February to ship my stuff to the UK. Selling my place 3 Feb hopefully. The more time I'm here the more I realise how expensive Melbourne is. I have a better lifestyle on less money as cost of food and entertainment is way cheaper. I'm in Worcester.
  6. KTM1963

    Returning to Blighty after nearly 8 years in Queensland!!

    Hi I lived in Melbourne for more than half my life (almost 28 years) and the last 8 were unsettling so came in March this year to test the waters. Have been back every year for 4 weeks. I bloody love it. I'm back in Worcester where I lived before going to Australia and it's just magical. Currently have snow which I love. The weather hasn't been an issue. The cost and quality of life and the small city vibe is what I love. Selling my property in Feb 2018 and using OSS International Removalists due to hundreds of verified great reviews. I actually feel like I never left and although I have had wonderful times in Australia and have lifetime friends, there really is no place like home. Also, being able to visit so many beautiful European and British cities is a plus. Good luck! PS Had no trouble getting work at all. Something I unnecessarily worried about.
  7. KTM1963

    Cost of living in Melbourne

    realestate.com.au will show rental properties available...northern suburbs are generally much cheaper than inner city and bayside areas. I lived there and loved it but each to their own. Need to be careful with some suburbs too. I am not a beach person so not important to be there at the premium price but was only 10 kms from the city with tram/train/buses on my doorstep.
  8. KTM1963

    Cost of living in Melbourne

    If you take a look at the link, I agree, this is for a permanent resident but if classed as a foreign resident your full salary is 32.5c in the dollar. I don't know what Johnnyboy's visa is classed as. Also, here is an accurate tax calculator if you are classed as a normal permanent resident with allowances. Did it on my most recent salary and compared to my bank statement. It is spot on. http://salary.calculatorsaustralia.com.au/
  9. KTM1963

    Cost of living in Melbourne

    The tax is much higher in Oz too so although it sounds like a decent wage, once you take out applicable taxes and deductions for Super, generally employee contribution of 9.5% with your employer matching that and medicare levy which is 2% what is left in your hand isn't as much as you'd think. If you're classed as a foreign resident rather than a permanent resident there is also no tax break. Everything is 32.5 cents in the dollar. I earn much less in the UK but with only 20% tax and NI contributions and a much lower cost of living I always have money left each month, something I rarely did in Australia. Having said that I am sharing a house including all bills at the moment 425 all up so not too may outgoings. i am in a different dilemma as definitely selling my unit in Melbourne and trying to arrange from afar but will be worth it. I took home about $4,200 from memory. Check out the ATO link below for Super and other worthwhile info. https://www.ato.gov.au/Rates/Individual-income-tax-rates/
  10. KTM1963

    Cost of living in Melbourne

    Melbourne is a great city. Why not go with it, see how you feel after a year and reassess. I'd suggest renting out your home in the UK and test the waters like I am doing the other way around. If your visa isn't tied indefinitely to your employer, you could check out other places too down the track. It is more expensive than the UK but nothing ventured, nothing gained. My friends thought I was mad to return to the UK but life is too short to live with regret and for me all has worked out perfectly. Wish you and your family all the best.
  11. Thank you for posting as I am in a dilemma about who to choose to ship my stuff fromm Melbourne to England early next year. Did you take all your furniture etc, a full container? I am taking most of my sparsely furnished 2 bedded property apart from white goods. May I ask how much is cost. The quotes are varying. Thanks in advance.
  12. KTM1963

    Cost of living in Melbourne

    Hi Johnnyboy, Lived in Melbourne for 28 years and returned in March 2017 to test the waters. I love being back in the UK and intend selling my unit next Feb 2018. I've had a wonderful life there but Melbourne has grown too quickly over the last 5 years. Transport is bursting at the seams, a huge lack of affordable rentals unless you head out a good distance from the city and house/unit prices are through the roof. Yes, utility bills have risen dramatically and food is way more expensive. I can hardly believe how cheap fresh produce is here in Worcester. E.g. 2 punnets of any berry 1.50, 1 punnet in Oz $6...that is one example but I see it all the time. No pound shops or the like so you pay premium for most things. I earned $80k including Super and have a low mortgage and car. Had a good standard of living as a singleton but not enough for a family of four. Have you considered anywhere else? Sydney/Melbourne property prices are crazy but other States are dropping due to the mining crash. Perth is a beautiful state and very family orientated and has the weather. Melbourne has 4 distinct seasons like the UK, that's why I loved it and it does get cold for 3 months. Have a fairly rounded knowledge and would be happy to answer any questions. It is a great city but feel your standard of living would be less than what you currently have. Good luck and all the best
  13. Hi all After 28 years in Australia, originally went as a 1 year back packer and subsequently got PR and citizenship, my year to test the waters back home is going brilliantly. I have been very unsettled in Melbourne for 5 years or so and decided to head back earlier this year (Feb 2017), locking up my unit in case things went pear shaped. Anyway, I love it. Live in Worcester, have life time friends and family close by and everywhere is so accessible. Back from Barcelona today and off to Budapest on Thu. Got work easily and now have taken on a full time job. My question is what are the consequences, tax wise, if I decide to rent out my unit rather than sell when I head back on my return flight in Feb 2018. My accountant advised I will get tax credits from the UK re work but need to find out more and also want to ask if everyone who has left permanently did final tax returns, took themselves off the electoral role etc...also, I have some removalist quotes which seem quite high if you want to take most of your stuff. Any help would be appreciated. After living in black in white (without realising, I feel I now live in technicolour :))
  14. KTM1963

    Returning to Blighty after nearly 8 years in Queensland!!

    Lived in Worcester for 10 years before heading to Australia in 1989. Have just returned to test the waters in March 2017 and love it. So close to everywhere, a very pretty city and affordable if you want to buy. Love the small city vibe compared to Melbourne and so far, no intention of returning permanently to Australia. Oh! and just started a full time job today
  15. KTM1963

    Reactions from UK family?

    Hi all, I couldn't agree more with the many and varied reasons for returning to the UK. I have lived in Australia 28 years, more than half my life, came as a back packer in 1989 and returned to the UK in March 2017. I have just turned 54, got a contract job immediately and start a full time job on Monday. Life is far too short to keep wondering if you should do it or not. I intend using my return flight in February 2018 to basically sell up my unit in Melbourne. Can buy a lovely little house here (Worcester), be cashed up and will be working for 3 years full time and can afford to then work 2/3 days a week. Never married, no kids but feel like many of you in that I love and appreciate Australia, and always wil,l but I want to be close to Europe, life long friends and my ever diminishing family. I am 21 on the inside and I think if you have a happy, optimistic outlook on life and are willing and able, age really is no barrier. Good luck!
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