Anybody else earning UK pound in Aus and wondering if it is worth it.
Feb 28th 2010, 4:20 am
#1
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Joined: Feb 2005
Location: The Gold Coast, QLD
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Anybody else earning UK pound in Aus and wondering if it is worth it.
Hi
We still earn part of our income from a UK company and are paid in UK pounds.
Given the effort involved we are getting to the point of thinking it is not worth while. There is a moral obligation not to let them down but wonder how much longer to go on especially if the pound gets worse. Our mind might be made up for us anyway if VAT goes up and people stop buying non essential stuff.
Just wondering how many people in Australia are in a similar position.
We still earn part of our income from a UK company and are paid in UK pounds.
Given the effort involved we are getting to the point of thinking it is not worth while. There is a moral obligation not to let them down but wonder how much longer to go on especially if the pound gets worse. Our mind might be made up for us anyway if VAT goes up and people stop buying non essential stuff.
Just wondering how many people in Australia are in a similar position.
Feb 28th 2010, 4:47 am
#2
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Joined: Dec 2006
Location: Mt Martha, Melbourne
Posts: 1,199
Re: Anybody else earning UK pound in Aus and wondering if it is worth it.
Hi Neil
I responded to your comment in the Tsunami thread as we still earn some pounds.
When we came over I started work for a friend sorting out and updating his website on a weekly basis and at the time I was getting a resonable day rate and working 2 days a week which allowed me some steady income whilst building up things over here. It was good as it was paying more than a part-time job over here and I'd just spend on my UK credit card and pay it off with my UK earnings - so all was well and everyone was happy!
Then his business took a bit of a hit with the GFC so he dropped me down to 1 day a week but now with the pound dropping as well I'm now loosing out on quite a bit a month. As I said in my other post I've been saving this money up in the UK to pay for our flights to go back to the UK but they've now just become even more expensive!
We also do other work for contacts we have but really now just keep the funds over there for an emergency as it's now not worth bringing it over or even paying for stuff on the card anymore.
I do feel for you if a good percentage of your income is in pounds especially with everything here going up so much as well. I guess at the end of the day you'd either have to sit it out until the pound improves
or look for more income in A$s. Difficult one!
I responded to your comment in the Tsunami thread as we still earn some pounds.
When we came over I started work for a friend sorting out and updating his website on a weekly basis and at the time I was getting a resonable day rate and working 2 days a week which allowed me some steady income whilst building up things over here. It was good as it was paying more than a part-time job over here and I'd just spend on my UK credit card and pay it off with my UK earnings - so all was well and everyone was happy!
Then his business took a bit of a hit with the GFC so he dropped me down to 1 day a week but now with the pound dropping as well I'm now loosing out on quite a bit a month. As I said in my other post I've been saving this money up in the UK to pay for our flights to go back to the UK but they've now just become even more expensive!
We also do other work for contacts we have but really now just keep the funds over there for an emergency as it's now not worth bringing it over or even paying for stuff on the card anymore.
I do feel for you if a good percentage of your income is in pounds especially with everything here going up so much as well. I guess at the end of the day you'd either have to sit it out until the pound improves
or look for more income in A$s. Difficult one!
Feb 28th 2010, 5:19 am
#3
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Joined: Feb 2005
Location: The Gold Coast, QLD
Posts: 443
Re: Anybody else earning UK pound in Aus and wondering if it is worth it.
Hi Koalakim,
I started in a similar way to you and earned far more than a part time wage here at around 2.4 to the pound. I am on retainer and commission which worked well for both of us. As it was my only income I had the full tax allowance on that income. basically I had half a full time take home pay for doing something entirely on my terms.
At the start of the GFC I was dropped all together and then we resumed the previous agreement part way through last year.
I do have a full time job here which is not really secure hence keeping the UK job.
I love doing the UK job but it eats into leisure time and having a full time Aussie job means it is now taxed on every penny.
I can see that if I packed one job in then the other could disappear due to the economic situation.
It seems that a couple of years ago the choices were mine while now it seems that things are well beyond my control and that of many others I assume.
Thank god the wife works in the health sector!
I started in a similar way to you and earned far more than a part time wage here at around 2.4 to the pound. I am on retainer and commission which worked well for both of us. As it was my only income I had the full tax allowance on that income. basically I had half a full time take home pay for doing something entirely on my terms.
At the start of the GFC I was dropped all together and then we resumed the previous agreement part way through last year.
I do have a full time job here which is not really secure hence keeping the UK job.
I love doing the UK job but it eats into leisure time and having a full time Aussie job means it is now taxed on every penny.
I can see that if I packed one job in then the other could disappear due to the economic situation.
It seems that a couple of years ago the choices were mine while now it seems that things are well beyond my control and that of many others I assume.
Thank god the wife works in the health sector!
