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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Feb 19th 2010, 7:41 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
When Lehman Bros went belly up in 2008 and started the GFC shares & commodities (including to a lesser extent Gold) plunged. About the only thing that went up where some Sov bonds and the USD, this was partly a flight to safety and partly and unwind of the carry trade (also asset liquidation). Come March 2009 the situation reversed, the money that the major govts printed & gave to the banks at zero interest went looking for a return & risk assets rallied, USD declined. Next we could well see the double dip (has anything actually been fixed???), and the USD is again rallying off its lows, its the least worst currency (DXY has gone from 72 to 80 recently, interestingly Gold seems to have decoupled and is going up too).

Basically I'm thinking of holding some USD as a hedge against the next leg down, be it caused by a bond crisis, debt default, war (Iran, Falklands, take a pick of several others) or another black swan. The reason I said scary is the USD should not be doing what its doing, they're recklessly expanding the money supply & need to sell a massive amount of debt this year to finance more "stimulus", ultimately the US dollar looks very vulnerable but short term its seen as a safe haven


Thank you. I understand now. Not a bad tactic !
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Old Feb 19th 2010, 7:47 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
I'm just getting a job in Oz and leaving my stinking £'s in UK for now
If, when, you do transfer those pounds to dollars, won't the Aussie Tax man come a calling if you've left a couple of years and the pound has risen significantly.... which admittedly I can't see happening for a very long time?.

I made a call a while back in this thread, or another of the exchange rate threads, that the pound would be somewhere between 1.50 - 1.60 to the dollar by year end. I'm sticking with that.... and I believe 2.50 to the dollar has gone for good.

Every chance that the Australian economy could be larger than UK before this decade is out.
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Old Feb 19th 2010, 9:23 pm
  #1143  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by iamthecreaturefromuranus
If, when, you do transfer those pounds to dollars, won't the Aussie Tax man come a calling if you've left a couple of years and the pound has risen significantly.... which admittedly I can't see happening for a very long time?.

I made a call a while back in this thread, or another of the exchange rate threads, that the pound would be somewhere between 1.50 - 1.60 to the dollar by year end. I'm sticking with that.... and I believe 2.50 to the dollar has gone for good.

Every chance that the Australian economy could be larger than UK before this decade is out.
tax man can whistle!

I moved to Australia in early 2006 when rate was about 2.40, been studying and working back in UK for last 2 years so as far as I'm concerned anything upto 2.40 I have not made a gain on from that entry!

This whole tax thing is a can of worms and I still have not seen anybody say they were actually taxed on such a gain.
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Old Feb 19th 2010, 9:28 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
tax man can whistle!

I moved to Australia in early 2006 when rate was about 2.40, been studying and working back in UK for last 2 years so as far as I'm concerned anything upto 2.40 I have not made a gain on from that entry!

This whole tax thing is a can of worms and I still have not seen anybody say they were actually taxed on such a gain.
You'd have to declare it first to be taxed on it
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Old Feb 19th 2010, 9:49 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
tax man can whistle!

This whole tax thing is a can of worms and I still have not seen anybody say they were actually taxed on such a gain.

The Tax Man seems a whole lot more integrated into the entire financial set-up here than they ever did in the UK. If a large sum of money turns up in any Oz bank account you can be reasonably sure the ATO will know about it.

Big question would be if they do anything about it.
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Old Feb 19th 2010, 11:56 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Vash the Stampede
The UK has enjoyed a powerful currency for generations. You had your fun. Now it's our turn.



Suck it up, buttercup. I lost thousands when I moved from Australia to the UK, thanks to the ruinous exchange rate at the time (2.4:1).
Been thinking a lot about that today and nope, I wont just suck it up. 'Going to make a plan

Can anyone recommend a good financial adviser who has a high level of expertise when it comes to matters of tax, pensions, etc for UK to Aus migrants?
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Old Feb 20th 2010, 12:07 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
Been thinking a lot about that today and nope, I wont just suck it up. 'Going to make a plan

Can anyone recommend a good financial adviser who has a high level of expertise when it comes to matters of tax, pensions, etc for UK to Aus migrants?
Surely those words don't go together in the same sentence anymore?
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Old Feb 20th 2010, 12:10 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Centurion
What did you say - peak oil was that ?
I get your point. And it appears that Britain itself wouldn't benefit from much, if any revenue.

Last edited by paulry; Feb 20th 2010 at 1:22 am.
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Old Feb 20th 2010, 12:11 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by iamthecreaturefromuranus
Surely those words don't go together in the same sentence anymore?
Well, I've got to ask
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Old Feb 20th 2010, 12:16 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
Well, I've got to ask
Over the years I've taken 'financial advice' on a few occasions from independent advisors and bank affiliated advisors.... without fail every piece of 'advice' went on to benefit only one person... and it wasn't me. !!


Perhaps tax advisors are better than their investment counterparts.
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Old Feb 20th 2010, 12:23 am
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Default Re: 1.93's A$ to the Pound!!!

Wow, just saw it has dropped to 1.71 !!!!

When we did our last transfer to buy our house 12 months ago we got 2.09, which we thought was bad...but thank God we did it when we did.
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Old Feb 20th 2010, 12:31 am
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Default Re: 1.93's A$ to the Pound!!!

Its now a 10 year high for the AUD. The pound is taking beating. I have an amount of Sterling I need to buy within days. So sorry - seems its all my fault
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Old Feb 20th 2010, 12:34 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Centurion
Its now a 10 year high for the AUD. The pound is taking beating. I have an amount of Sterling I need to buy within days. So sorry - seems its all my fault
I believe it's more like a 25 year high for AUD vs GBP.
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Old Feb 20th 2010, 1:05 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by bcworld
I believe it's more like a 25 year high for AUD vs GBP.
Quite probably if not more. I was lazy and couldn't be bothered looking elsewhere than Ozforex.
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Old Feb 20th 2010, 1:13 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
tax man can whistle!

I moved to Australia in early 2006 when rate was about 2.40, been studying and working back in UK for last 2 years so as far as I'm concerned anything upto 2.40 I have not made a gain on from that entry!

This whole tax thing is a can of worms and I still have not seen anybody say they were actually taxed on such a gain.

Ummmmmmmmm.........

http://britishexpats.com/forum/showt...=653881&page=2
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