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Showing results for tags 'savings'.
Found 63 results
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We are in the process of selling our house ready to move to Sydney. Can anyone advise where we can deposit a one-off lump sum for the best interest rate. I'm not finding it very easy to compare savings rates. We'll need to rent for as long as it takes to buy a property.
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Hi All, Those following UK media will know that due to changes of CGT rules for UK property, there's been a flurry of real estate transaction activity over the last few months. Mortgage companies have started significantly dropping their rates For those of you who followed my article from 2018 and are currently enjoying an HSBC mortgage. You may like to learn that 2 weeks ago HSBC performed some significant rate cuts. In fact they were so significant that the money saved by the rate cut was double the 'early exit fee' that was due because to switch meant breaking out from the fixed term early. The process is very simple you just to go the landing page of your HSBC Mortgage account. In there you'll see a 'Manage' button. Click that and you have the opportunity to "start a rate switch". It's pretty easy from there. Benefits = I save approximately £3k over 2 years I extend the mortgage term for an additional 5 years, so: No no more sleepless nights worrying how I'm going to find a low cost mortgage without having to deal with a broker and pay broker fees No effort in getting documents notarised No spending 4 weeks going back and forward with conveyancers No need to get the property re-valued Here's my original topic below (sorry i put it in Renting and Real Estate, @The Pom Queen i don't suppose you could please move it to Money and Finance) Enjoy
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Hello i would appreciate some advice. My partner and i moved to QLD in February from the UK and we have permanent residency status (we love it) Annoyingly we moved out shortly after Brexit when the Pound had massively dropped in value so only brought enough money over to get started and get on the property ladder. I do feel as though the Pound will regain some of its former strength eventually but i wouldnt be surprised if it takes another 3 years or so I have substantial savings just sat in a bank in the UK earning less than inflation and some stocks and shares held within ISA's which i can no longer contribute to and maximise as im no longer living in the UK, plus some rental properties. I have been waiting for a Bear market or at least a market correction (surely it must be coming soon !) to invest the money sat in the bank in three or four low cost unmanaged index trackers probably with Fidelity.co.uk (who i have my ISA's with) to capitalize on the cheap stock prices then hopefully enjoy the next rise in the markets by which time i am hoping the Pound will have gained some strength against the Dollar. At this point in the future i would hopefully be able to move some or all of the money over to OZ to use here or just invest in an Ozzy fund provider for future retirement. What im not sure on is the potential Tax implications on profits made on those shares and any issues regarding timing of moving money over to OZ. Im looking to make my savings and assets work for me but and be efficient as possible but dont want to fall foul to Tax Issues like being taxed in both countries or paying more Tax than necessary. I dont know if anyone has been in a similar situation but all advice is welcome. Thanks Richard
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Hello, I currently hold UK funds and stocks via Hargreaves. I also have been working and saving in Australia and have opened a NAB Trade account. I am new to AUS investments but have noticed that shares here are not as expansive as it is in the UK. I am wondering, because I am not so familiar with ASX, to transfer all my AUD savings to my UK account and invest in LON? Or are there better reasons to keep it AUD and invest in the ASX instead? If so, where can I get reliable investment news and advice which are similar to what Hargreaves offer? I am mostly a long-term investor, looking for something steady and stable over a year or longer which is why i have mostly funds. Thanks in advance.
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Hello i would appreciate some advice. My partner and i moved to QLD in February from the UK and we have permanent residency status (we love it) Annoyingly we moved out shortly after Brexit when the Pound had massively dropped in value so only brought enough money over to get started and get on the property ladder. I do feel as though the Pound will regain some of its former strength eventually but i wouldnt be surprised if it takes another 3 years or so I have substantial savings just sat in a bank in the UK earning less than inflation and some stocks and shares held within ISA's which i can no longer contribute to and maximise as im no longer living in the UK, plus some rental properties. I have been waiting for a Bear market or at least a market correction (surely it must be coming soon !) to invest the money sat in the bank in three or four low cost unmanaged index trackers probably with Fidelity.co.uk (who i have my ISA's with) to capitalize on the cheap stock prices then hopefully enjoy the next rise in the markets by which time i am hoping the Pound will have gained some strength against the Dollar. At this point in the future i would hopefully be able to move some or all of the money over to OZ to use here or just invest in an Ozzy fund provider for future retirement. What im not sure on is the potential Tax implications on profits made on those shares and any issues regarding timing of moving money over to OZ. Im looking to make my savings and assets work for me but and be efficient as possible but dont want to fall foul to Tax Issues like being taxed in both countries or paying more Tax than necessary. Thanks Richard
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Hello, If all goes well, then my family and I are planning to move to Adelaide in the month of Aug - Sept 2018 and have a few concerns / questions on money transfers. can one open a bank account from overseas, i.e. before arriving in Adelaide? If so then how do we go about it? (Money transfer from UAE, Qatar) any recommendations on banks? Some with low service charges etc? is the transferred money taxed? If so then what % Appreciate any other additional info that you may think is useful. Thank you. KPG
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Hi all, My husband and I are hoping to make the move in 2015 with our 3 children. Realistically we don't expect to have more than £10k in savings. We're currently renting (never owned a home), and had initially planned to buy somewhere in the UK first. However, saving for a deposit has proved difficult and house prices don't seem to be rising enough to make us a worthwhile profit in 2 years time once fees etc are deducted. Im concerned that we will find that buying a house in Aus is just as difficult to achieve as it is here in N. London. Should we consider delaying our move and buying a property here, or just go for it and see how things go in Aus? Any experiences would be great. Lucy
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Hello All We are a family of five Hubby, Myself, Daughter who's 6, Son who's almost 4 and a chihuahua! (Dog) We are currently at the thinking stages of emigration! We know very little about it, only what have researched and the information this wonderful site has provided us! Our next step is to look at completing visa's and from feedback from here, think we will try using an agent! Im not too sure if theres anywhere that kind of gives step by step if what to do, Perhaps an agent will also help with this. Hubby is also looking into jobs! I have put alot of research into areas, We are planning a trip to Aus this year to check out for ourself! but again this is also going to depend of husbands Job situation All very confusing to me. One main question we have is.. Roughly how much money do we need in total to emigrate? how much does the visa process cost? We have also have read mixed messages about needing a certain amount of savings, in orde to be accepted? We have a house to sell here in Uk and cars etc but it wont leave us with loads! due to recession and paying off car loans! Please if someone could provide any rough figures or any more information, We would be most greatful Thank you From Sarah and Family in sunny UK!! (I Wish!)
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Can anyone recommend a UK savings account that allows you to be living out of the UK? We currently have some funds in Egg that we don't envisage moving to Australia in the near future. When I recently tried to change our address (to the new Aussie one) through their online banking page, it didn't allow it and I then received a message saying that Egg don't allow non-UK residents to have an account with them. So now we need to move the funds somewhere else and I'm stuck for where to look. Any ideas anyone? Thanks, Sam
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I've just received a strange letter from the ATO and even phoned them and am none the wiser. It was like talking to a robot. Basically, I have to pay tax on my savings in advance, paying every quarter about $250 at a rate of 32%. I don't earn megabucks and neither do I have millions in the bank. It's just my savings for a house deposit. They won't let me sort it out and pay off any money if I owe them any when I do next year's tax return. No one at work has heard of this so has anyone here received a similar letter or can explain it in plain English!!!
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Ok I have been here a number of years now and still not got my head around this, but, if you already have the funds in your account why does it cost you 65c if you choose cheque (this won't be all banks but Bendigo does) yet if you choose credit the money is still coming out of the same place but doesn't cost you.:goofy:
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hi we are in the very early stages of looking into a move to Oz. We are thinking we would rent out our house in the UK but would be making the move with no savings. Our thoughts are my partner would secure a job before we leave to ensure all essential costs are covered inc. cost of mortgage of our uk home in case we cannont rent it out! would be good to hear if anyone has made a similar move and how you found it? or if ths sounds quite unrealisitc! :unsure: thanks
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Hi all, I live in Sydney and will do so for another year or 2 and dont need to move my savings over from the UK. My current savings account is receinvg under 1%pa in interest so need to find something else but it appears you need to be a UK resident. Has anyone tried opening a savings account in the UK whilst living in Oz??? or even a sterling savings account here?? I'm slightly apprehensive of opening an offshore account. thanks
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hiya myself and hubby are here on 176 visa but never brought over our savings due to the currency rate but now are biting the bullet and going to bring it all over. Thing is do we have to pay tax now on our savings or do we just declare the interest on our tax return next year We did state on our 176 application what our savings were and only brought over enough to get us started here but now we need to get it over but dont want to pay tax on it if we had to. Has this happened to anyone and what did you do???
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How much savings can you have before you need to declare it on a tax return? is there a threshold? Also, do offshore savings have to be declared? again is there a threshold? Thanks in advance
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Hi Guys For those of you already living in this wonderful place (Queensland, that is) then you might still hanker after daylight savings and the luxury of extending the daylight for a further hour in the warm spring/summer/autumn evenings. I do and there are many good economic and social reasons why we SHOULD have daylight savings in Queensland. So far, I have not seen one good reason why we SHOULDN'T have daylight savings, yet the government defy popular opinion and their own politicians and refuse to trial it or even hold a referendum. Some of the arguments against have been laughable (yet made in all seriousness - the cows will stop producing milk, the curtains will fade etc) However, some politicians won't let it drop (good for them) and an online parliamentary petition is on the go, closing in April. So if you live in Queensland and would like to, at the very least, get the government to properly guauge public opinion on this matter then sign the e-petition and let's see if we can't get a referendum. I, for one, would love to get home from work on a summer's evening and enjoy my garden in daylight or take the dogs for a walk on the beach (no street lamps on the beach) whereas I get home now and almost as soon as I step off the train someone flicks a switch, the sun goes down and it becomes nighttime. To join me in signing the petition go to: Queensland Parliament E-Petitions - Current E-Petition Get your friends, neighbours,relatives (hell, even get your enemies) to sign this as well. One day the government will do something about this. We have seen what public pressure and peaceful demonstration can do in the Middle East, Eastern Europe and North Africa in recent weeks. Time for our own little revolution me thinks.
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Hi, I am on a 457 visa for the next 4 years and have recently arrived in Sydney. I have some money in a UK savings account - can I claim interest gross (i.e. without tax) on my saving? or am I still liable for tax on interest? Are there any other options I could consider - i.e. Offshore bank accounts? Any advice greatly received. Many thanks.
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Hi There everyone, first timer on the forum. My UK wife is pregnant and due in Nov 2011 and wants to head back to be with the family when we have the baby in Feb 2012. I am really excited to relocate with her and think it is a great idea. I have qualifications in Aus that have been certified to NVQ level 3 in a couple of areas of work. We have been together 3 years and married exactly 1 year! My question is, (and i hope i dont get in trouble for posting this in this area) do you think 10000 pounds would be enough savings for the visa application for settlement especially with having a baby? We have a letter from her father stating we can stay with him for as long as we want, he is well off with a good job and is paying off a mortgage comfortably by himself. I am stressing out big time as i dont want to ruin our chances of going back and spoiling it for my wife. I know it most probably goes on case by case basis as i have read but just from peoples experience, do you think this would hopefully be enough. Cheers everyone. Deej
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Well, been back in Canada over 7 months now, and in the full swing of a glorious Canadian summer. It has been a beauty !....hot.. temps in the low 30's.... this weekend's forecast is hot and sunny with temps in the low 30's but with humidity feeling like the low 40's. After living in Perth, with no daylight savings, I can honestly say that I LOVE daylight savings. Sitting outside with a cold beer and enjoying the time after work well until 10pm. What a difference it makes, you can cram so much more into your evening after working all day. It's funny how only 1 hour can make such a difference. I realize that only WA, QLD and I think the NT don't have daylight savings...... such a shame. I am sure that those back in the UK and those living in areas of Australia with daylight savings will agree with me. Well just wanted to share...... loving this summer !! Karen
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Returned to the UK after the birth of my 3rd child in Perth. ? mainly due to baby-blues? Been back a yr, paying a fortune in renting, made a massive mistake. But how the hell can we get back? We have PR visa. Hubby a senior Maintenance Enigineer, tons of experience and willing to do lots of OT and work hard... But every job vacancy states 'must be living in Perth'... How the hell can we get back? Got quotes for shipping, min £3600. Flights for 5, min £3500.... Then deposit for rentals, car hire, and intially living costs until employment.... In total about £10,000........................ All tips, suggestions, hints, questions, job offers etc,,,, WELCOME XXXX Kids aged 7yrs, 5yrs and 20months.
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Hi, Does it make any difference to my partner's visa approval chance, if we have or have not got savings? She is applying for the Spouse/Partner visa onshore here in the UK sometime in the near future and the above question crossed my mind? We won't be going until I can guarantee work before hand, as we're not fortunate to have a decent savings fund at the moment. Thanks in advance Huw
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Hi all, Just was wondering if anyone here has been in similar situation. I moved to Australia last year, transferred part of savings before I came. The other part was left back home as I wasn't sure whether I'd like it here or not. Now I'm thinking (may be too late??) of transferring the other part of funds to Australia and facing a question whether the Australian tax authorities would want to tax it? I've read other threads and couldn't find a situation similar to mine. Only saw one about sale of property and bringing in funds at a later stage. Thank you for sharing your thoughts on this.
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My partner coming to Aus from UK, has being paying into a pension/retirement fund, can he roll it over to an aussie superfund? What is the best way to go about this? Id like to hear from ohters, ie can you draw it out on the grounds of immigration? cheers Sam
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Hi, My partner and I are in the fortunate position of having our visas. I have now been offered a job in Hobart, Tasmania. We are renting our property in UK and I plan to keep my UK bank account and use a UK credit card and operate both of these online for a while until I have an Aus bank account. My salary in the Uk is £30K. I am in the process of negotiating with Tassie, but the minimum is £44K. My partner is worried about the cost of living in Aus, but I think things will balance out. We have some savings (not loads). My question is should I take this all of this over or leave it in the UK as the exchange rate is so poor?
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I just wondered what everyone thought would be a good amount of savings to have behind you when you emigrate to Aus? Atm we have about £17,000 in the bank saved but we have cars/motorbike to sell before we move and also DH is going on another tour of Afghan so we will have quite a bit saved from that. Thank you!
