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Guest McF150Supercharged

Time Frame for transferring funds to Oz

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Guest McF150Supercharged

I have a skilled Independant Visa which is valid for another 4 years, but intend to emigrate early 2012.

 

Fingers Crossed house will sell pre Xmas, then the next stage is what to do with poor FX rate.

 

Is there a time limit before Sterling has to be brought into OZ or can I leave it on deposit for an unlimited time until ( hopefully ) the exchange rate improves.

 

Thank you.

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No time limit, but you may be liable for Capital Gains Tax on any increase in value (including FX value) of your UK assets between the date you become an Aussie tax resident and the date you transfer the capital

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Guest McF150Supercharged

What defines the time you become an Australian Tax Resident?

 

What if I leave England & travel for say 6 months?

 

Same question if I dont work in Oz for 6 or 9 months?

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