PhoebeW Posted September 26, 2011 Share Posted September 26, 2011 Not just your daughter, everyone pays tax on interest. :yes:What some people may have to watch (if they open an account with someone elses money) is if they get a benifit from the state and then have too much savings then that could be stopped.:shocked: Les :yes: Like most people here I've paid tax all my life, sadly there's no way round that for any of us :swoon:. The problem is with the new baby (so 3 in total :biggrin:) only SIL wages ATM and renting they get some form of help with the rent so I don't need to muck that up for them by her opening an account for me in her name:no:. I just need to get my head around this NAB and Forex thing :goofy: Phoebe Quote Link to comment Share on other sites More sharing options...
Guest guest36187 Posted September 26, 2011 Share Posted September 26, 2011 We have been paying the tax on mum and dads aos money since 2007. scary the amount it adds up to. Just in process of sorting it all out with mum and dad! Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted September 26, 2011 Share Posted September 26, 2011 We have been paying the tax on mum and dads aos money since 2007. scary the amount it adds up to. Just in process of sorting it all out with mum and dad! I would pay the tax for them if they give me the rate they got in 2007. :wink: Quote Link to comment Share on other sites More sharing options...
sandch Posted September 26, 2011 Share Posted September 26, 2011 My daughter was going to open an online account for me in her name at 6.5% with UBank but she would have had to pay tax on the interest :goofy:, they couldn't afford to do that so I'm looking for another option :yes: if there is such a thing :swoon: Worst case senario is.....if for some reason we can't get into Oz we can still use it for holidays etc :biggrin: Phoebe Surely if you are the investor, she would only have to declare her share of the interest? That is, zero? Someone will end up paying it though! Quote Link to comment Share on other sites More sharing options...
liverpoolloo Posted September 27, 2011 Share Posted September 27, 2011 Not just your daughter, everyone pays tax on interest. :yes:What some people may have to watch (if they open an account with someone elses money) is if they get a benifit from the state and then have too much savings then that could be stopped.:shocked: With an account in your UK name and address you will pay 10% tax on the interest earnt in a Oz account. The down side is getting access to those funds if you do not visit Oz before you need them. Les This is my problem as i won't be going back over until i hopefully get the visa, i may just open an account though and start feeding money through i may not need for the visa so i have money in an account as soon as i get there and just validate the account. Honest my head is be-jiggled as yesterday i was on to pet exporters, my pension fund, moneycorp, all to do with money i went to bed dreaming of pounds and dollars........ not to mention a big lottery win. just a matter of interest if anyone is thinking of exporting pets to OZ the quarentine laws maybe changing in January and they will be including the Rabies jab and the length of quarentine is determined from the blood test taken soon after the jabs, i think 180 days have to have elapsed from the blood test to do the 30 days quarentine, as the time gets less the more quarentine your pet will have to do. I have started the process now as advised by the pet exporter, quarentine is expensive $72 per day for my 2 little pooches plus 30 days is a long time to be separated from them, wouldn't want them in there any longer as good as Byford is. Come to realise i need to work 24/7 to pay for all this....... it's a worry now working the finances on paper but i just keep focused for a better future. I have the chance of lots of work in care in Perth, were as i may not have a job at all next year the way the council is looking here. Lets hope the dollar keeps improving........:spinny: Quote Link to comment Share on other sites More sharing options...
charlie5 Posted September 27, 2011 Share Posted September 27, 2011 Lets hope the dollar keeps improving........:spinny: I am hoping the GB£ improves not the AU$. Charlie :shocked: Quote Link to comment Share on other sites More sharing options...
Stellathedog Posted September 27, 2011 Share Posted September 27, 2011 : I just need to get my head around this NAB and Forex thing :goofy: Phoebe Hello Phoebe As I intend going over as often as possible, to see only grandson Harry, I wanted to have some access to aussie funds and yesterday tried online to open NAB account. The process seemed really easy. Then, when I was making tea at 4 this morning!!, I saw an email from them, asking why I was applying as their 'rules' say you have to be going there for at least 6 months. I sent a reply back saying that the account would be for hopefully frequent holidays and also to buy Harry presents at any time. Had a reply from them by the time I got up again, saying they were going ahead with the application. Heres hoping!!!! Cheers Pam Quote Link to comment Share on other sites More sharing options...
ariomart Posted September 27, 2011 Share Posted September 27, 2011 G&T on the central coast from K and M, meet up in Melbourne with you Moira..........any other offers??????? We are visiting from beginning of November till early January, so plenty of time to take up offers!!!! We will be with our daughter and family in Sydney, but will be trying to leave them on their own for a couple of days a week, although if we are needed for babysitting???????? I'm always up for that. Moira, this will be my 7th time of visiting and leaving each time gets harder. Won't stop me though, until I'm too old to travel!!!!!! I'm trying Singapore Airlines this time, as so many on here have said they are the best. When I booked back in January they were also the cheapest! Have a wonderful holiday, and if we venture to Melbourne again, I'll give you a shout!! Cheers Pam Please do Moira Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted September 27, 2011 Share Posted September 27, 2011 I am hoping the GB£ improves not the AU$. Charlie :shocked: Hi Charlie, how do you get the pound sign on your computer or is a UK keyboard? Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted September 27, 2011 Share Posted September 27, 2011 Alt-0163 should do it ... Best regards. Quote Link to comment Share on other sites More sharing options...
Guest sirmatt101 Posted September 27, 2011 Share Posted September 27, 2011 PIQs spotted in Ikea Logan :shocked: I am pleased to announce that the founding meeting of PIQs (parents in Queensland) was held late this afternoon in the Ikea, Logan, cafeteria!! :biggrin: Attendees - Marmite Matt & Mrs Marmite Matt and Les & Wanda Avalook. It was noted that as Ikea Family Members they were all Piqqing into the free coffee :embarrassed: Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted September 27, 2011 Share Posted September 27, 2011 Welcome to Australia Les, I hope it turns out to be a good decision for you both. Say Hi to Marmite Matt if you ever get the chance to meet up. All the best Steve Met Matt and Dianne at Ikea today, well our UK Ikea Family cards work out here so the free coffee is welcome. :biglaugh: No marmite but lots of offers on Swedish meatballs. As Matt and Dianne are quite a few months ahead of us they have greatly added to our 'to do list'. It was nice talking to someone who understands what it is like to do this at our time of life and obviously they were very positive people, which helps when you have those 'what have I done' moments. :yes: :idea: Wednesday mornings Ikea have $1 off their cooked breakfast. :jiggy:Every little helps. :biggrin: Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted September 27, 2011 Share Posted September 27, 2011 PIQs spotted in Ikea Logan :shocked: I am pleased to announce that the founding meeting of PIQs (parents in Queensland) was held late this afternoon in the Ikea, Logan, cafeteria!! :biggrin: Attendees - Marmite Matt & Mrs Marmite Matt and Les & Wanda Avalook. It was noted that as Ikea Family Members they were all Piqqing into the free coffee :embarrassed: I'm so b!@#$y slow at typing and texting it is a wonder we made the meeting on time. :twitcy: Quote Link to comment Share on other sites More sharing options...
MikenSueNW3 Posted September 27, 2011 Share Posted September 27, 2011 Alt-0163 should do it ... Best regards. Unless you have a Aussie Mac, in which case it's Alt-# Mike Quote Link to comment Share on other sites More sharing options...
MikenSueNW3 Posted September 27, 2011 Share Posted September 27, 2011 Every little helps. :biggrin: Where have I heard that before? Mike Quote Link to comment Share on other sites More sharing options...
charlie5 Posted September 27, 2011 Share Posted September 27, 2011 Hi Charlie, how do you get the pound sign on your computer or is a UK keyboard? UK keyboard that I shipped out. Charlie :biggrin: Quote Link to comment Share on other sites More sharing options...
vava Posted September 27, 2011 Share Posted September 27, 2011 I was only moaning to a fellow PIO member last week about not yet having a case officer.............well guess what popped into my inbox whilst I was sleeping??? Eeek! Now the fun begins - bring it on!! Quote Link to comment Share on other sites More sharing options...
Durhamlad Posted September 27, 2011 Share Posted September 27, 2011 Unless you have a Aussie Mac, in which case it's Alt-# Mike On my Aussie Mac Alt # gives me # but shift # gives me the £ sign. David Quote Link to comment Share on other sites More sharing options...
ariomart Posted September 27, 2011 Share Posted September 27, 2011 PIQs spotted in Ikea Logan :shocked: I am pleased to announce that the founding meeting of PIQs (parents in Queensland) was held late this afternoon in the Ikea, Logan, cafeteria!! :biggrin: Attendees - Marmite Matt & Mrs Marmite Matt and Les & Wanda Avalook. It was noted that as Ikea Family Members they were all Piqqing into the free coffee :embarrassed: Still bringin a smile to my face Moira Quote Link to comment Share on other sites More sharing options...
stevemalbec Posted September 27, 2011 Share Posted September 27, 2011 I was only moaning to a fellow PIO member last week about not yet having a case officer.............well guess what popped into my inbox whilst I was sleeping??? Eeek! Now the fun begins - bring it on!! Good luck, one more off the list before I get mine! Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted September 28, 2011 Share Posted September 28, 2011 You can open a NAB account on line, we opened a current account and a internet account I'm back :biggrin: Did you mean current account and 'Interest account' ?? and can you transfer your UKForex funds into either one ?? Thanks again :wink: Phoebe Quote Link to comment Share on other sites More sharing options...
Durhamlad Posted September 28, 2011 Share Posted September 28, 2011 I'm back :biggrin: Did you mean current account and 'Interest account' ?? and can you transfer your UKForex funds into either one ?? Thanks again :wink: Phoebe You can open a current account called NAB Classic Banking and also a internet account called a NABiSaver. The NABiSaver pays 5.65% for three months then 4.65% interest after that. The NAB Classic account is a current account and only pays 0.01% interest. So you transfer your funds from the UK to the iSaver account for the interest then when you are in Oz and need to spend you have to go on line and transfer funds over from the iSaver to the NAB Classic current account which you use as you would do here in the UK. You can not withdraw funds straight out of the iSaver account so using this method you have to be happy to bank on line. You can set up a transfer to any Oz account so you could just open the NAB current account and transfer funds to it. NAB web site link below. https://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/23/1 David Quote Link to comment Share on other sites More sharing options...
charlie5 Posted September 28, 2011 Share Posted September 28, 2011 You can open a current account called NAB Classic Banking and also a internet account called a NABiSaver.The NABiSaver pays 5.65% for three months then 4.65% interest after that. The NAB Classic account is a current account and only pays 0.01% interest. So you transfer your funds from the UK to the iSaver account for the interest then when you are in Oz and need to spend you have to go on line and transfer funds over from the iSaver to the NAB Classic current account which you use as you would do here in the UK. You can not withdraw funds straight out of the iSaver account so using this method you have to be happy to bank on line. You can set up a transfer to any Oz account so you could just open the NAB current account and transfer funds to it. NAB web site link below. https://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/23/1 David Hi Check out the NAB Retirement Account. There are no charges and it does offer about 3% interest. Not the highest rate available but we use it as our day to day current account. We then have savings accounts linked to it. Charlie Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted September 28, 2011 Share Posted September 28, 2011 Hi Check out the NAB Retirement Account. There are no charges and it does offer about 3% interest. Not the highest rate available but we use it as our day to day current account. We then have savings accounts linked to it. Charlie We're not quite retirement age yet :biglaugh: but it's always a thought for the future :biggrin: Phoebe Quote Link to comment Share on other sites More sharing options...
MikenSueNW3 Posted September 28, 2011 Share Posted September 28, 2011 On my Aussie Mac Alt # gives me # but shift # gives me the £ sign. David Aha! In that case, I suspect that your Aussie Mac (like my MacBook) has UK keyboard mapping – ie, set up to "think" it's a UK Mac! Mike Quote Link to comment Share on other sites More sharing options...
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