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Found 16 results

  1. Susan from Moneycorp


    "We know that behind every currency transaction is someone’s ambition, passion or dream and we’re entrusted with something very important." Our Managing Director Lee McDarby shares some well-rounded thoughts here on the current situation for those changing currency, making foreign payments or buying shares ~ https://www.linkedin.com/posts/leemcdarby_stayhome-staysafe-moneycorp-ugcPost-6652844440283160576-Jnvf
  2. Anita Melbourne

    UK or AUS investments?

    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.
  3. I'm 50 years old and going back to the UK to live permanently. I have superannuation and understand that I can't touch it until it matures when I'm 59. I've been told to wait until I'm 60 so it will be tax free. Not sure if that will still be the case when I am a UK resident - can anyone clarify? What happens when it does mature? Do I cash it in and take the lump sum or use it to generate an income from Oz? I also have a portfolio of shares. I understand that it will be better to sell them before I go and bank the money. My question is WHEN is the best time to do this? I will finish work in January 2015. I hope to sell my house in December/January and also bank that money, so potentially there could be quite a lot of interest to be earned. I am employed in the Education system and I have the option of either going on unpaid leave and/or taking my long service leave. I was thinking of taking unpaid leave from January to April, Long Service Leave (at half pay) from April to September, and unpaid leave from September to December. I can either take the long service leave in fortnightly payments or in one or two lump sums (split across two tax years). Not sure what option to take. I hope to have a few months off and maybe do some contract/relief work in the UK. When do I cease being an Australian resident and become a UK resident for taxation purposes? Lastly, National Insurance - I worked for a few years before coming to Oz. I understand that the reciprocal agreement is no more, however am I able to claim credits for the period I was working in Australia up until 2002? If so, what evidence do I need to show them or is it as simple as giving them my TFN? I would really love some advice on this. It was all so simple when I came here many years ago with a backpack and a bit of cash!! Now it all seems rather complicated...!
  4. Need advice or contact details of anyone who can advise.. Have a large number of bank shares (used to work for a big4 bank & had them as part of sharesave schemes), which are obviously not worth the paper they are written on at moment & certainly not what I put into them! Was going to leave them in UK with the hope the price MAY eventually go back up enough so I can at least get my money back. But am concerned about any tax implications if I sell them once resident in Oz. How do they calculate any 'gain' for tax purposes, coz if they rate it on the value when we enter Oz (which is less thean £1 per share at mo!) to when we sell - we r b******d! I have p/work to prove/confirm the share price when I bought them, so would this be enough to avoid CGT? Also are there personal limits each year (like in UK). All shares are currently in my name so wondering whether it would be worth transferring some to OH so we have bigger limits if applicable? Also have endowment policies - which again didn't want to cash in yet as unit-linked so not worth much yet. How would tax work if we waited for it to complete in 2016 or cashed it in -once in Oz? Thanks to anyone who can help.... Kath
  5. Hello there, Thanks for reading. I'm new to the site and looking for advice as I really don't know anyone to ask here in Oz or back home. So here goes... I was offered a job on a 457 last year when I was living in the UK.. I've been here 6 months and the company is doing well, its a small team of 5 and I think they had been struggling but things have really taken off this year. I've just been for a quarterly review and they've offered me a small salary increase, which is great, but also the chance to buy into the company. Now I have no idea how this works, who to speak to etc and wanted to know if there was anyone here with experience willing to share their knowledge/advice. In a nutshell this is the offer: a.20% of the company at a value of $200K being $40K. b.Payment would be $5,000 down and the balance to come out of commissions and/or dividends over 3 years. c.If I decide to leave then the company buy back shares at same price less what was not paid. If the shares are paid off and I decided to leave after 3 years, they'd buy back at market price less 25% discount payable over 3 years d.If in 3 years I want to buy more, they'd value the company and I'd get a discount of 25% on the buy in price. e.A shareholders agreement will be prepared to reflect conditions to protect both parties Now it's great to be asked to be further involved with the company and I do think it's something i'd consider, but not sure if this is a good deal or not and what sort of questions i should be asking. For example how did they reach a $200k valuation, is it normal to buy back LESS 25% over 3 years etc etc. They've also offered a $15k car allowance OR novated lease as part of my salary package. Is this normal. What's the difference between an allowance and a novated lease? Sorry for all the questions, i looked through the FAQ's and couldn't see anything related to this particular issue, but if there is feel free to point me in the right direction. many thanks in advance.
  6. Tarby777


    Hi all, Just wondering whether anyone is being brave and ploughing any money into Aussie shares at the moment. I'm keen to start a portfolio but the advice I've had from friends who really seem to know their onions is to hang on and keep it in high-yield cash accounts until the dust settles from the latest round of wobbles. What are you guys doing? Cheers, Tarby
  7. The Pom Queen

    Australian Shares Lower at Midday

    AUSTRALIAN shares fell lower at noon following negative leads from US and European markets overnight. The local bourse opened about half a per cent down today. By 12.15pm (AEDT) both major local indices had pulled down further, with the benchmark S&P/ASX200 index shed 40.4 points, or 0.95 per cent, at 4204.1 and the broader All Ordinaries index lost 40.9 points, or 0.95 per cent, to 4265.1. Commsec market analyst Steven Daghlian said the market had followed weak leads from European and US share markets overnight. He said that JP Morgan's earnings, which were released before Wall Street opened, had helped cause financials in almost every major economy to fall heavily. "The commentary that accompanied (the results) was negative in terms of investment bankers keeping cash on sidelines because of the economy in Europe," Mr Daghlian said. In local trade, the financial sector saw more moderate falls, down 0.7 per cent, with Westpac the worst performing major retail bank, down 16 cents, or 0.74 per cent, at $21.59. He said the market was looking towards China's inflation reading - which investors expected to fall - at 12.30pm (AEDT) for further direction. Losses were broad-based across all sectors after copper, oil and gold prices all fell in offshore trade yesterday. The materials sector led the downward trend, falling 1.95 per cent. The spot price of gold in Sydney was $US1664.75 per fine ounce, down $US6.55 an ounce from yesterday's close at $US1671.30. Energy stocks were also hit hard, trading 1.45 per cent lower after world oil prices fell yesterday as traders fretted about slowing demand in China after its trade surplus narrowed for a second straight month. The weakest stock of the top 100 companies on the ASX was Aquarius Platinum, which lost 5.75 per cent, or 18 cents, to $2.95. The best performing stock on the same index was Cochlear, which gained 4.9 per cent, or $2.50, to $53.70. Making headlines in local trade, Leighton Holdings shares fell 1.1 per cent, or 23 cents to $20.41 after its offshore division was awarded an $US518 million contract by Iraq's South Oil Company (SOC) to develop two offshore platforms. Leighton also won a $80 million mooring contract. Qantas said its plight was "getting worse, not better", as engineers prepared to walk off the job today, with about 7000 passengers expected to have their travel plans disrupted. Its shares fell half a cent to $1.56, after Prime Minister Julia Gillard warned the Government had powers under the Fair Work Act to intervene in the dispute if it began to impact the national economy or health and safety, a move the Federal Opposition said it would support. Mr Daghlian said Qantas shares had shed about 40 per cent in 2011, worse than the broader market, with the All Ords index down almost 12 per cent for the year. Market turnover was 717 million shares worth $1.45 billion, with almost nine shares falling for every one that gained on the ASX 100. The December share price index futures contract was down 28 points at 4208, with 18,647 contracts traded.
  8. Just had an offer on a house accepted and need to sell some UK quoted shares to release funds. I don't have a trading account set up and from what I can see, the usual people (Halifax etc.) need you to be UK resident to create one. We sold our house before we came over so don't have a UK address. Does anyone know how I can sell my shares from here? Can I just phone a UK number? The proceeds would be going into a UK account before onward transfer to Oz. This would be a one off trade. Thanks.
  9. I inherited paper shares a few years back and have been worrying about what to do with them if we ever actually emigrate. Our visa's will expire Dec 2013 so we really are going to go next year as time is marching on. Anyway, back to the point. I will likely need to sell a lot of the shares to have some money to get us to Oz, pay for short term rental and set up at first. I would rather not sell them all before getting to Oz but have recently heard that there will be major tax implications of having shares in the UK as I would pay both UK and Oz tax on the dividend/any sales etc and I have no idea how the taxing of share sales work in Oz so maybe I am better selling the lot while we are still here in the UK? Help please. Anyone in the same boat at all? Also, if I get the paper shares transferred to CREST do I then lose the dividends? I am awful at all this.
  10. Hi Can anyone help? My husband has been made redundant from a German bank and holds German shares that we do not want to sell yet. We cannot find a stockbroker in the UK that will hold German shares, we found one, but they said they couldn't take them as we would be Australian residents, so.... we need a stockbroker that can hold german shares for an Australian resident!! Any ideas? also, we emigrate on Tuesday 6th October so desperate to get it sorted!!! Many thanks Sue
  11. noel2538

    Claiming Tax on Shares ?

    Hi All We emigrated to Melbourne in May this year, when I left UK I completed P85 and the tax I paid in tax year 09/10 was refunded back to me...I worked for Tesco's and had shares which had to be sold when I left and I paid basic rate tax on the proceeds. I contacted HM Revenue, they advised me to complete an R40 but this form state 'if you are not a UK resident do not use this form'..so Im bit confused...if I leave it will it automaticly be refunded at the end of tax year 09/10?....ideas please:notworthy: Another thing is we still have money in our bank accounts in the UK...about £7,000...left it there because we're visiting family next year in UK and the exchange rate is cr*p at the moment. We havent registered these account for gross interest but what is the Australia tax position on these accounts? We both have pension too and understand they can be transferred to Oz fund tax free within 6 months, as longs on the QROPS list.....people are advising us to leave it in the UK because of how the 'supers' are doing over here, so thats another issue!!! Any pointers are appreciated....the right direction is all I need..lol thanks all:hug:
  12. Say you have a portfolio of - foreign shares, canadian, singapore..etc, all over the world. - assets in the UK, rentals - gold/silver bullion - also hold different currencies as cash - plus do online trading frequently, margin. I am interested in learning about oz tax, so my thinking so far is... - rental income and capital gains charged to oz...based on valuation at date or PR activation. otherwise pay CGT to uk...when you sell? - owning foreign shares is a nightmare under the current rules, but those rules are being repealed (last 2009 budget but i have no details), so I assume I can still hold these shares and only pay tax on sales and dividends. The idea now is I pay CGT on these quarterly even if i dont sell them. crazy! no wonder they repealed this. - the CGT tax is great if you hold assets more than 1 year, 50% redemption, so assuming a tax of 40%, then its 20% you pay, same as UK BUT, in the UK you dont need to hold for 1 year! so oz is frankly worse if you are holding investments short term. - gold, silver, i assume there is no GST to pay, and it is simply a normal asset..let me know. is there an issue if gold is held outside country. - being a trader, does this help you tax situation, should I try to get this thru? i would be interested to know. I assume being a trader means all profits treated as income not CGT. so probably makes no difference! - holding different currencies, now here is the tricky one, i think i pay CGT on these currencies...which is absurd! not fair, it is cash! my risk. can someone agree with this? uk of course does not charge CGT.
  13. Guest

    house shares in subi

    hi,our visa has finally been granted!we arrive in perth on the 2nd of sept and have no idea where we are goin 2 live,my girlfriend starts work at the st john of god hospital in subiaco,on the 22nd of sept! we are idealy seeking a house share in or around subiaco,dont suppose anyone knows of anyone with a room 2 rent? many thanks
  14. Guest

    CGT on Shares

    I have taken part in a company share scheme over the past 7 years. Funds from my UK pay-packet have been used to buy shares in US dollars. I am leaving the company at the month and emigrating to AU. If I sell these shares in the UK I don't believe I would pay CGT (Share schemes have special rules, however I don't have enough to go above the 9200 tax free amount anyway), however is this the case in Australia? I was hoping to sell the shares so that they were paid directly into my AU bank account after I arrive in the country, however if I am liable to pay a load of tax it probably makes more sense for me to sell them now whilst I am an employee in the UK and then transfer them over to AU at a later date. This would mean that I pay two sets of fees to transfer the money from US$ to GBP and then on to $US, however this may be a lot cheaper than getting whacked for CGT. Calculating Capital Gains may also be a logistical nightmare given the monthly payments over 7 years however I'm hoping the share provider would calculate that for me. Any comments or thoughts on the above would be most appreciated.
  15. Can anyone tell us how long after moving to Australia you get before you pay tax on money that you bring into the country. Eg. if you can't sell your house now and you rent it out, if you decided to sell it in 2 years time would you be eligible to pay tax? also, shares, as the market is not good, if you decided to wait for a year before cashing them in, you obviously pay tax in the uk, but would you also pay tax on bringing them into Australia? Any help much appreciated. Thanks Shambo
  16. Hello. Wondered whether anyone can advise on following ... We are moving to Aus later his year and I am currently negotiating an employee share option that have been approved by UK revenue so that when exercised tax will only be payabe at the issue rate. e.g. if shares are issued at the nominal rate of £20 and if exercised at a value of £100 I will only be liable to pay tax at the £20 per share rate. Does anyone know would this situation "travel" to Aus or not as I am not intending to return to UK ...and would like to be aware what tax liability I may be walking into .. Also interested to know what the capital gains tax is in Aus. Thanks kieran