2.3694 AUD to the pound!!
Nov 17th 2004, 5:48 pm
#1
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2.3694 AUD to the pound!!
Current exchange rate is dire...
Really I don't have a one track mind but this is bad news for anyone taking money to Australia at the moment. there just does not seem to be any stopping the oz dollar at the moment.
Has anybody talked to any traders lately and got their reaction?
Really I don't have a one track mind but this is bad news for anyone taking money to Australia at the moment. there just does not seem to be any stopping the oz dollar at the moment.
Has anybody talked to any traders lately and got their reaction?
Nov 17th 2004, 6:11 pm
#2
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Re: 2.3694 AUD to the pound!!
I would love to get a bit of an inside track as well. We are waiting for our bond request to come through and it is costing more each day the way the rate has gone. Any ideas of movement before Christmas ?
Nov 17th 2004, 6:45 pm
#3
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Re: 2.3694 AUD to the pound!!
I agree the rate is totally awful on paper i have lost in the region of au$ 60,000 over the past couple of months that is enough to buy a small property in some places just hope it doe'snt drop any further or i might have to postpone until it picks up again
Nov 17th 2004, 11:56 pm
#4
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Re: 2.3694 AUD to the pound!!
Originally Posted by steve the man
I agree the rate is totally awful on paper i have lost in the region of au$ 60,000 over the past couple of months that is enough to buy a small property in some places just hope it doe'snt drop any further or i might have to postpone until it picks up again
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
Nov 18th 2004, 12:10 am
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Re: 2.3694 AUD to the pound!!
Originally Posted by darkless
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
So you can transfer any foreign money to Australia in the first 6 months from landing without paying tax? I looked on the ATO site but could not find any info on it. Can this be confirmed somewhere? I thought it was less than that. But would be good if it was 6 months.
Cheers Tincx
Nov 18th 2004, 12:21 am
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Re: 2.3694 AUD to the pound!!
Originally Posted by Tincx
Hi
So you can transfer any foreign money to Australia in the first 6 months from landing without paying tax? I looked on the ATO site but could not find any info on it. Can this be confirmed somewhere? I thought it was less than that. But would be good if it was 6 months.
Cheers Tincx
So you can transfer any foreign money to Australia in the first 6 months from landing without paying tax? I looked on the ATO site but could not find any info on it. Can this be confirmed somewhere? I thought it was less than that. But would be good if it was 6 months.
Cheers Tincx
Assets should be valued on the day you take up PR BUT I don't belive the tax office would chase you up unless you are talking about millions of lost revenue.
I transferred large ammounts 2 years after I took up residence I didn't declare it as I was ignorant of the rules and had no comeback. It's a self assesment system here for foreign income and capital gains and you just have to declare what you've made with no requirement to provide ANY documentation (unless you are audited and then you might).
Nov 18th 2004, 12:22 am
#7
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Re: 2.3694 AUD to the pound!!
Originally Posted by Tincx
Hi
So you can transfer any foreign money to Australia in the first 6 months from landing without paying tax? I looked on the ATO site but could not find any info on it. Can this be confirmed somewhere? I thought it was less than that. But would be good if it was 6 months.
Cheers Tincx
So you can transfer any foreign money to Australia in the first 6 months from landing without paying tax? I looked on the ATO site but could not find any info on it. Can this be confirmed somewhere? I thought it was less than that. But would be good if it was 6 months.
Cheers Tincx
Dave
Nov 18th 2004, 12:45 am
#8
Joined: Feb 2004
Posts: 1,277
Re: 2.3694 AUD to the pound!!
Originally Posted by darkless
Hi Steve
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
Nov 18th 2004, 12:47 am
#9
Joined: Feb 2004
Posts: 1,277
Re: 2.3694 AUD to the pound!!
Originally Posted by Kiwipaul
Not true the 6 month rule is for transferring pensions only.
Assets should be valued on the day you take up PR BUT I don't belive the tax office would chase you up unless you are talking about millions of lost revenue.
I transferred large ammounts 2 years after I took up residence I didn't declare it as I was ignorant of the rules and had no comeback. It's a self assesment system here for foreign income and capital gains and you just have to declare what you've made with no requirement to provide ANY documentation (unless you are audited and then you might).
Assets should be valued on the day you take up PR BUT I don't belive the tax office would chase you up unless you are talking about millions of lost revenue.
I transferred large ammounts 2 years after I took up residence I didn't declare it as I was ignorant of the rules and had no comeback. It's a self assesment system here for foreign income and capital gains and you just have to declare what you've made with no requirement to provide ANY documentation (unless you are audited and then you might).
Nov 18th 2004, 12:47 am
#10
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Re: 2.3694 AUD to the pound!!
It was barely 2 dollars to the pound when I went there in the mid 90s, so any exchange rate which is better than that is good enough for me! 
Nov 18th 2004, 7:45 am
#11
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Re: 2.3694 AUD to the pound!!
Originally Posted by steve the man
I agree the rate is totally awful on paper i have lost in the region of au$ 60,000 over the past couple of months that is enough to buy a small property in some places just hope it doe'snt drop any further or i might have to postpone until it picks up again
Nov 19th 2004, 4:25 pm
#12
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Re: 2.3694 AUD to the pound!!
Originally Posted by darkless
Hi Steve
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
Nov 19th 2004, 5:15 pm
#13
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Location: Terrigal - NSW Central Coast since June 2005
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Re: 2.3694 AUD to the pound!!
....smack bang up-to-the-minute is $2.3674 !!
Originally Posted by steve the man
Damn i wish i were taking £300.000 my original calculations were based on having the equivalent of AU$300,000 which would have been enough to buy a reasonably priced house and a bit left over for me and the missus to live on till we got established , ah well just have to hope my numbers come up on the euro millions lottery tonight then i really will be in the money
Nov 19th 2004, 5:20 pm
#14
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Re: 2.3694 AUD to the pound!!
Originally Posted by darkless
Hi Steve
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
I fully agree that the exchange rate decline is a blow to all of us moving over to OZ, but if you claim that you are losing $60,000 based on a decrease from say £1:$2.55 two months ago, that means you are taking over £300,000 - surely this is enough money that your emigration need not be postponed by it!!!
If nothing else, transfer over £20,000 and rent a house for a while until the rate picks up (you may only have 6 months though)
Jim
Nov 19th 2004, 6:05 pm
#15
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Re: 2.3694 AUD to the pound!!
Originally Posted by steveyp
Current exchange rate is dire...
Really I don't have a one track mind but this is bad news for anyone taking money to Australia at the moment. there just does not seem to be any stopping the oz dollar at the moment.
Has anybody talked to any traders lately and got their reaction?
Really I don't have a one track mind but this is bad news for anyone taking money to Australia at the moment. there just does not seem to be any stopping the oz dollar at the moment.
Has anybody talked to any traders lately and got their reaction?
Just over 2 years ago, when my brother visited from Melbourne in October 2002, he was complaining because the AUS$ was so low! At the time is was almost 2 AUS$ to the US$. Now a US$ buys $1.27 AUS!