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Found 54 results

  1. Guest

    Tax on transfers?

    Hi folks, In another thread, I saw somebody musing about the possibility of tax on the transfer of funds from the UK to Oz and it set the alarm bells ringing for me. I had always assumed that transferring money from the UK to Australia as part of a permanent move would be tax-free (i.e. that the Australian authorities would not demand tax on it). Is that the case? If not, that's a deal-breaker for me. There's no way I'm paying another round of tax on my hard-earned savings that have already been taxed to the hilt! Thanks in advance, Steve.
  2. Guest

    Visa transfers

    Hi there, This is my first forum thread so please be gentle . I'm a Brit living in Aussie currently on a 457 Temporary Visitor visa (4 yrs). My company is British and my sponsorship is officially from the UK based company even though there is an Australian sub-entity. I have heard that under recent changes to immigration law that came into force circa September 2009, it is now not that difficult to move from one sponsored 457 visa to another with another company. As in you don't have to re-apply, simply transfer it across. In addition, a friend told be that under these changes it is easier to transfer across from 457 to Permanent Residency. Is that right? I ask this as my partner is a kiwi and thus I wouldn't mind moving there for a while in the future if required. Having Aussie PR would mean that I would be able to live and work in NZ without the hassle of getting new visa's. Again, is that presumption correct, or are there varying levels of PR meaning I wouldn't be able live and work in NZ freely. I'm just looking for the best option and the best way forward really. Any advice would be greatly received. Kind regards.
  3. Hi folks, Just thought I would share with you, that today I saw a poster up in Tescos, advertising international money transfers, including Australia, for a flat fee of £3.00. Didn't read the small print, but I guess you could find out more information on their website. Hope its of use to someone. Mandisdfam
  4. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The respite for the GBP didn’t last long. After having a go at regaining some respectability against the USD, some fairly average industrial production numbers out early last week put paid to that, and the tone was set for the rest of the week. Another blow for the pound was the Reserve Bank of Australia’s decision to increase their official lending rate to 3.25%. This had investors clambering to buy Aussie dollars at the expense of all the major currencies including the UK pound. As you can see below, the GBP/AUD cross got hammered. The unfortunate thing for those looking to repatriate pounds back into Aussie, is the trend looks like continuing. Compared to the same time last year, the UK pound has slipped 30% against the AUD. Anyway, enough of that. As for the week ahead, a heap of data due out for the markets to get their teeth into. Most of the ‘meaty’ data is due out from the northern hemisphere. If the data comes out on the positive side, expect the Australian dollar to continue its trek north. The UK pound is in desperate news of some positive economic data otherwise its slippery slide will continue. A combination of positive global data and less than impressive UK economic date will see the pound slip further against the Aussie dollar. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.7600 Low: 1.7250 GBP/AUD Expected Range for the Week; High: 1.7500 Low: 1.7050 Click here to view GBP/AUD charts Talk to your currency provider today about forward contracts to protect your currency risk. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  5. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hello all, Against all predictions, there was a bit of respite for the beleaguered UK pound. Financial markets are always nervous. The recent trend has been to sell the safe haven currencies in favour of the likes of the higher yielding currencies such as the Australian dollar. The result of this sort of trend is the Australian dollar appreciates and generally the currency crosses such as the GBP/AUD get worse for those looking to repatriate funds from the UK into Australian dollars. However - some fairly shabby data out last week gave the currency and equity markets the jitters globally and the question was asked; “ how long is it really going to take to get out of this recession? “ The answers were not as clear-cut as they were a few weeks ago and the demand for the Australian currency lagged. As with last week, there is a heap of economic data due out this week (Bank of England rate announcement – expected on hold) and with it comes a good chance markets may feel the pinch of some fairly nervous investors. This being the case, I would expect the GBP/AUD cross to remain at around these levels or even improve slightly. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8390 Low: 1.8170 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8100 Click here to view GBP/AUD charts Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  6. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hello all, The trend continues. The UK pound loses more ground against the USD, whereas the Australian dollar holds relatively steady. As a result, the amount of Aussie dollars you get for your pound continues to shrink. The Bank of England isn’t doing their local currency any favours, happy to talk the currency down, stating a weaker sterling is helping the rebalancing of the UK economy. The Australian dollar in contrast remains in favour, as investors in the current climate are prepared to ditch “safe haven” currencies such as the US dollar and Japanese yen for the likes of the Australian dollar. This is to take advantage of the higher interest rates they can get for their investments. As for this week, there looks to be no respite for the beleaguered pound and the Aussie dollar looks like chalking up further gains against the sterling this week. There is a heap of economic data due out this week which will be of interest to all the markets. Definitely worth talking to your currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and needing to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8772 Low: 1.8394 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8110 Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  7. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The UK pound continues to hold the dubious honour of being “the currency most out of favour.”Last week I mentioned the UK unemployment rate and UK retail sales figures must come out as good numbers for the currency to turn around its current woeful performance. This did not happen. In fact, unemployment rose more than expected and has climbed to 7.9% (more than 2% up on July last year) and retail sales in August were a lot worse than forecast. Further negative comments from the Bank of England late on Friday also weighed heavy on the pound. Apologies now to those holding Sterling as the rate of conversion of UK pounds back into Aussie dollars continues to get worse. This trend looks set to continue. There are more and more holders of pounds having to bite the bullet and get around 1.87 Australian dollars for their pound, compared to 2.6 in October last year. Definitely worth talking a currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and looking to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9326 Low: 1.8740 GBP/AUD Expected Range for the Week; High: 1.8550 Low: 1.8950 Currency Online – Moving Money Made Easy
  8. Guest

    GBP/AUD - The Week Ahead

    Hello all, The GBP continues to perform dismally against the AUD. The Australian dollar opens this week at a one year high against the US dollar. Although the UK pound has picked up a bit of ground this year against the US currency, it has not done so at the same pace as the high flying Australian dollar. The pounds 13 year low against the AUD looks likely to extend itself over the coming months. Australia is showing signs it is coming out of recession. “The lucky country” has also got all those commodity reserves waiting to be mined as the “waking giant” China gets itself back on its feet. In contrast, the UK economy is going to take a lot more time to recover and meanwhile, news out of the UK hasn’t inspired investors to leap into their currency. Limit orders to take advantage of small spikes in the market could be your best option if needing to transfer in the not too distant future. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9492 Low: 1.9341 GBP/AUD Expected Range for the Week: High: 1.9400 Low: 1.9100 Talk to your currency provider today about how to best manage your currency needs. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  9. Guest

    GBP/AUD - The Week Ahead

    Hi there, The GBP/AUD continued its slump last week. Generally poor UK data and revived interest in “risk sensitive” currencies such as the Australian Dollar has seen the GBP/AUD cross continue it 13 year plunge. GBP/AUD High’s & Low’s of last week; High: 1.9640 Low: 1.9330 The picture does not look like getting better for the beleaguered GBP. Although there are signs the UK housing market is picking up, the 13 year high in unemployment is weighing heavily on the pound. In contrast, the Australian economy sees light at the end of the tunnel. Although unemployment is higher than officials would like (still less than half the UK’s unemployment rate) the Australian economy is showing signs of picking up. Positive signs will spur the Reserve Bank of Australia into hiking the official lending rate this year. The RBA does meet tomorrow, but is unlikely to take action immediately. Of interest will be the accompanying statement which is likely to be positive for the Australian currency. If this is the case, the GBP/AUD will continue its slippery slide. GBP/AUD Expected Range for the Week: High: 1.9450 Low: 1.9150 Talk to your currency provider today about how to best manage your currency needs. Kind regards, Jon Speedy Currency Online – Money Transfers Made Easy
  10. Foreign Exchange can often be viewed as a complex and closed industry, but at the end of the day it is simply one currency being converted into another, at a rate offered by the currency provider and accepted by the individual or company that is looking to transfer funds. Hopefully some of the information below helps you with deciding the best way to manage your money transfers. Let’s say for example that you are looking to buy 100,000 Great British Pounds (GBP) worth of Australian dollars (AUD) to purchase a house in Australia for settlement in three months time. Spot Contract Buy Now. Pay Now. A spot contract is used for immediate money transfers and is the most popular method of transferring funds. You would transfer your GBP 100,000 into AUD at the current market rate. Forward Contract Buy Now. Pay Later. A forward contract allows you to enter into a contract at the current market rate for payment in the future. A forward contract can be used to protect you from adverse market movements in the future. For example, if you wish to buy GBP 100,000 worth of AUD, but do not need to send payment for the house for 3 months, or do not have the full amount of funds available, you can agree the exchange rate now. If the exchange rate moves at all in that 3 month period you will not be affected, as you have bought currency at the originally agreed rate. While this strategy provides you with peace of mind, the downside is that your rate is locked in, so you cannot take advantage of positive rate movements during that 3 month period. Market Orders Let’s say for example that the current market rate to sell GBP and buy AUD is 2.0000 Limit Order. You can place a limit order with your currency provider to target a preferred rate of 2.0400 that is better than the current market rate and that you would like to transact at. A limit order enables you to take advantage of spikes in the rate. Your currency provider will monitor the rates for you and will execute the transaction immediately if your preferred rate is reached. Stop Order. You can place a stop order with your currency provider to target a rate of 1.9600 that you do not wish to transact below and that is worse than the current market rate. A spot stop will protect you from adverse market movements if the rate goes against you. Your currency provider will execute the transaction if the level you have nominated is reached. I hope the information above has been of some value to you members. There are also other currency products that may help you with your money transfers. Make sure you contact a specialist currency provider to discuss your situation and provide you with the information necessary to complete your money transfers in the most suitable way. Kind regards, Jon speedy Currency Online – Moving Money Made Easy
  11. GBP/AUD is currently at the lowest levels seen since 1996. Sterling has fallen significantly in value because its yield (interest rates) has fallen to 0.50% and the BoE have pumped a huge amount of money into the economy, further undermining its value. The UK economy is also in dire straits with rising unemployment and a housing market on the verge of collapse. But it’s not all doom and gloom people! Contrastingly, the Australian economy has actually weathered the global economic storm quite well and is only experiencing a very shallow recession; the number of people employed actually went up last month! Australian interest rates are still high compared to other OECD countries and are also expected rise more quickly than the UK. Thus, Australia’s better economic position, exposure to emerging economies and its attractive yield have resulted in a significant appreciation of the Australian Dollar against Sterling. This is certainly a good thing for those of you looking to send funds back to the UK. For those that aren’t and are actually looking to bring Sterling to Australia, now might be a good time to protect yourself from the rate going against you further, by taking out a ‘forward contract’ – basically locking in today’s rate for payment at a future date. Make sure you discuss the benefits of a forward contract with your currency provider, as they can be a very useful tool to not only protect you from adverse rate movements, but also give you peace of mind in knowing that your rate has been locked in. Feel free to contact Currency Online to discuss how to best manage your currency needs. Kind Regards, Jon Speedy Currency Online – Moving Money Made Easy
  12. Guest

    Moving money made easy

    Emigrating? Purchasing property abroad? Sending money home? PomsInOz.com have proudly partnered with Currency Online to bring you a truly 24 hour money transfer service that offers exceptional rates and great service. Currency Online is a member of the HiFX group of companies and offers a leading edge 24 hour money transfer service both online and over the phone. Specialising in online money transfers, every client has the ability to manage all their currency needs via the Currency Online 24 hour website. Also, their office is open 24 hours a day, so day or night, a specialist Customer Relationship Manager is only a phone call away to provide any assistance you may need. Click here to view a brief web movie on the Currency Online money transfer process. Currency Online clients receive; ·Better rates than your bank can offer ·No commission, low fees ·24 hour money transfer service, both online and over the phone ·Toll free help desk if you need assistance ·Full online account and transaction history ·Immediate transfers, or lock in today's rate for future payment. Whatever your needs, let the money transfer specialists at Currency Online make your transfers simple, cost effective and stress free. Click here to sign up for your money transfer account. Currency Online – Moving Money Made Easy
  13. SAVTA

    Money transfers hsbc

    For those of you who have susbtanial funds and wondering how to transfer them over to Oz as and when required - this information may be of assistance. We specifically opened an HSBC account before leaving the UK as we knew there was a branch in Melbourne. Now I am able to transfer funds IMMEDIATELY ON LINE from the UK to AUS (or other countries). It is a very simple process and BEFORE transmitting you will be given the rate of exchange from Sterling to $ - so you can always cancel if rate not suitable. The funds will go directly into your Australian HSBC account. The only criterea is that you will have to be a premier customer! I am finding this facility extremely useful especially with the fluctuating currency. Hope I have been able to assist
  14. pez2008

    Money transfers+banks

    In a few months i will need to transfer about £70k to a bank in Geelong Victoria can i open an account from here(uk) and get my bank to transfer it or do i need to use someone like Halo finances. Obviously i want to do it the safest and cheapest and companys like Halo will charge (not sure how much). Just wondered what other people did or are going to do.
  15. ANZ will charge me $24 per transaction which isn't huge but I thought I read on here of someone doing it for $12 or $15. I've searched but can't find the post. Anyone know of a better deal or can point me to the thread please?
  16. Guest

    ADF transfers

    My husband has been offered a provisional transfer to the ADF in Melbourne subject to medicals and Visas. Has anyone else tranfered to the ADF who has any information or tips? Jo
  17. Hi We are planning on going to OZ in September and now need to start organising banks and money tranfers etc. Does anyone have any preferences for HIFX or MONEYCORP. Can't decide what to go for? Also banks , HIFX will set up a Westpac account and MONEYCORPS a NAB account anyone know what these banks are like. Not planning on transferring money yet as exchange crap but need to do some stuff while on holidays. Cheers Natalie :wub:
  18. Guest

    UK Pension Transfers

    Can anyone recommend a firm who specialises in the transfer of UK Pensions to Australia and also someone based in Perth who can assist with the preparation of UK and Australian Tax Returns. Much appreciated. Julie
  19. Hi, we thought about transfering our pensions before we go to oz, our visa agent recommended a company which would do this for a fee (quite large I thought). Have decided to find a financial consultant once in queensland to help with this and setting up our Supers. We fly out on June 11. Anyone got any thoughts or advice about pension transfers & supers?
  20. Guest

    Pension transfers

    We have just had a meeting with prismexpat regarding pension transfers etc. Anyone use them, if so what were they like- are they reliable? Any advise would be gratefully received. Cheers Natalie
  21. What is the easiest/cheapest way of sending back a few hundred pounds to my uk bank account each month to cover things like loan repayments?
  22. Just wondering how people who have migrated to Oz deal with all the luggage from the Airport to their new home. It is my understand that a lot of airlines allow you to double your allowance (from 20 to 40kg) if you are migrating. With this in mind, we are a family of 6 which could potentially mean 12 suitcases in total. Are there any companies that pick up 6 people and all their luggage???
  23. Hi Guys, I'm sure someones got some bright ideas about this: My mother wants to send over a small amount of money as birthday presents. Last time she sent a cheque from her UK bank. When my wife took it to the bank they wanted 40 days to clear it and it would incur $30 bank charges. Any body got any bright ideas how we can get round all this palava.
  24. Guest

    Money transfers?

    Hi all Well a bit of advice is needed regarding the transfer of money from the UK to Australia. We have a few thousand quid sat in our current account in the UK and at sometime in the next week or so we need to transfer it to Oz (assuming we get the bank details through in time) How easy is it to do. Our UK bank can transfer it but the rate isn't that great. Also another issue is is that we've sold our house so don't have a UK address any more. We can pretend if necessary as we are still collecting mail from our old address! I know some folks on here have sued Ozforex and Ukforex, are they easy to use? This money thing is doing my head in! Mandy x
  25. In light of the recent stories in the press and market volatility, I thought it might be helpful to post a “jargon-free” explanation of what this means to you, as a migrant, and the effects on your future wealth. Over the last 2 months the market has moved over 30 cents, so if you had £100k to move across then that is a difference of $30,000, which in real terms could be a new car, your flights paid for or some nice furnishings for your house! Worrying, yes, and unfortunately the recent moves have been downwards. The question is how low can it go? The simple answer is nobody can predict these moves, but there are steps you can take to protect yourself against these currency fluctuations and eliminate the risk of the markets moving against you. When migrating, it is paramount to ensure you are aware of these market movements and any significant trends developing, because the transfer of your funds from £ to $AUD will have a massive impact on your future wealth. Many people will leave their funds in the UK, as they may be renting for 6 or 12 months. However, 6 months ago the rate was around 2.40, and 12 months ago it was over 2.50, so the question you need to ask yourselves is what risk am I willing to take, or how much can I afford to lose? Please visit our website Foreign Exchange Specialists |HiFX plc, call us on 01753 859159 if you would like more information, or feel free to ask me any questions directly. Thanks, Richard, HiFX.