GoingToOz

Has anyone used this - and is it worth it?

I bark with Bankleys (lol), and noticed this on their webpage. It is a tax free offshore account (based somewhere like Jersey I think), and you can have a debit card for it that works worldwide. You can also set up a A$ account, and transfer funds between the two. You can also access the account online or via international telephone banking.

I can't see why I would need this - am I missing something? I have still not decided whether I am going to transfer all my ££ over or leave someto sit in a high interest account.

ANZ bank - opinions? Can I open an a/c with them before I get there?

Cheers!

CadburysFingers

You should be able to open any accounts online, with any of the major banks in Australia, thats what we did.

bondipom

If you were an Australian resident for tax purposes you would have to declare all income from overseas including from "tax free" bank accounts. BTW savings accounts here do not tax your interest at source however you have to pay up at tax return time when you declare you income.

Billabong

...If you declare the income

NickyC

Could be risky if you don't. Banks do provide details relating to interest paid to the ATO.

brisnick

or do what i do, and don't tell the banks your TFN, then they'll take out tax at full whack, and you get a refund come tax time :-)