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Showing results for tags 'exchange rates'.
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Now is the best time to transfer money to the UK in 5 years
Ian from SendPayments.com posted a topic in Money & FinanceThe past 24 hours have seen the Australian Dollar surge to highs v the Pound that PIO members will not have experienced since 2017*, so if you are considering transferring any funds back to the UK now could be a good time for you. A combination of the Royal Bank of Australia leaving its cash rate unchanged at 0.1%, soaring commodity prices, a strong trade surplus and the ongoing war in Ukraine are the major contributing factors aiding this. Poms in Oz have partnered with multi-award winning Australian based (but founded by two Poms), Send Payments to provide our members with a cost-effective method to transfer funds securely from Australia to the UK. Receive a free exchange rate quote *Article written on 06/04/22
Now is the best time to transfer money to the UK in 5 years
Ian from SendPayments.com posted a topic in UK ChatThe past 24 hours have seen the Australian Dollar surge to highs v the Pound that PIO members will not have experienced since 2017*, so if you are considering transferring any funds back to the UK now could be a good time for you. A combination of the Royal Bank of Australia leaving its cash rate unchanged at 0.1%, soaring commodity prices, a strong trade surplus and the ongoing war in Ukraine are the major contributing factors aiding this. Poms in Oz have partnered with multi-award winning Australian based (but founded by two Poms), Send Payments to provide our members with a cost-effective method to transfer funds securely from Australia to the UK. Receive a free exchange rate quote *Article written on 06/04/22
Great exchange rates with moneycorp
John from Moneycorp posted an article in Money and FinanceGreat exchange rates with moneycorp Are you transferring money to or from Australia? If so then get great exchange rates with moneycorp – plus, as a special offer for Poms in Oz forum members, there will be no transfer fee charges. High street banks can typically charge £10-£40 in transfer fees when making an international payment. See the table below for an illustration on the potential savings you could make by using moneycorp. *based on an exchange rate comparison taken on 1st January 2018 between Lloyds, HSBC, Natwest and moneycorp. Please note that there are additional costs with the service, the high-street banks typically charge £10-£40. Get started with moneycorp and start saving money – https://www.moneycorp.com/uk/campaigns/partners/pio/ Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858). Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276).
Exchange rates in tax return
Tarby777 posted a topic in Money & FinanceHi all, A couple of questions about UK mortgage interest, rental property income, bank interest etc that I will declare on my Aussie tax return: 1) Given that the amounts were accrued over the whole year, what's the correct exchange rate to use? 2) What's the right approach to take with the different dates on UK/Aussie tax years? I mean, on my Aussie tax return, should I declare the April-March figures or the July-June figures for my UK assets & liabilities? TIA Tarby
UK ISA and pension management from Oz
Guest posted a topic in Money & FinanceHi All, Am moving to Melbourne in April with my Wife and just starting to sort out finance side of things. As I understand when we leave the UK we cant pay any more into an ISA or Pension. What isn't clear is how these can be managed if we decide to leave them open and don't transfer them to Oz? Does anyone know if you can move ISA providers, buy sell funds etc when not in the UK? Any thoughts on the long term exchange rates? Only looks like the pound is going to get weaker from this side :-( Cheers for your thoughts.
Just a pondering
Guest posted a topic in Chewing the fatHi all expats and relocated expats that are back home!!! We submitted our 457 visa application yesterday but during our research we have read many testimonals, books etc. A lot of books have sound bites from ex pats that have moved for the lifestyle and because "it is cheaper". I recently bought the book living and working in Australia which is an excellent read but it keeps going on about "how cheap it is on OZ"... so I checked the exchange rate when it was written.... $1 was 49p!!! I wish. So what is the question you ask...... Well, the exchange rate is now $1 = 67p ish... so do all the expats that moved for the "cheaper" lifestyle now regret moving? Is is that more expensive? Are you having to watch the pennies more? To all expats that are now home - is this the reason you came home due to the exchange rate. I have heard the saying "it is not that bad when you are paid in dollars" so many times but I have to admit, the cost of living still seems a little high but not high enough to put us off coming across, so Mr DCIA man - please be nice and approve our visa application...:biggrin: Many thanks The Rossi's
457 a good situation to buy we hope
theoretically posted a topic in Renting & Real EstateHi, researching these forums and the interweb I have come to think we're in a good situation to buy. Please, a few questions and a little info: Recently started the 457, within my first month of getting regular pay checks (weekly) - I was working for them part time before the visa kicked in. 1) Will I need to be here longer to satisfy the banks/lenders? Was flatly turned down by Commonwealth bank as I'm not PR (my wife is also a foreigner to these parts) 2) can you recommend a good lender or two? We have money saved and are not looking to buy big, we hope to have 50-60% of the cash we need towards the house. 3) surely having 40-50% deposit is a great help(?) Would anyone recommend keeping some back for future, say kids, school or the like or is it wise to invest all we can afford in the house? I understand the process is: Find a lender, get approved, find a house, get the FIRB... 4) Can someone tell me if there is more to the early stages of the process, any pitfalls/caveats? I need to move cash from the UK at some point. I'm not desperate to move it yet and the exchange rate is painfully poor right now. 5) Recommend some methods of moving cash. Are any of these cash moving agents scams? (surely but I hope not the ones posting on these forums). Any wild guesses on when the exchange rate will improve and to what levels (I know we can only guess and hope here). That's all for now, more questions to come.
Has anyone else done the math??
Guest posted a topic in Money & FinanceAll things being well I should have my visa by Christmas (it's a RSMS 119 so has top priority) I was asked by my CO to get the medicals & police check etc in this week which I have now done (by the way anyone filled in form 80 - flippin heck!!) So my mind is now going towards the new year when I will be putting my house on the market with the hope of making the big move with my family next June. When I started thinking about making this big journey the Aussie dollar was 2.65 to the pound and my house was worth £395,000 with a mortgage of £265,000 so by my reckoning I had (albeit on paper) £130,000 of equity @ $2.65 or AUS $344,500 which would have been a VERY nice down payment on a house. But with a recession and a plummeting pound and a year later my house is worth £330,000 leaving me with £65,000 and the Dollar is now $1.75 to the £ so by my reckoning that will leave me with AUS $ 113,750 or approximately one third of what it would have been a year (give or take) ago. Does anyone out there have any words of comfort (except for the 'why don't you stay in the UK you moaning face so and so' variety) Daniel