cant make our minds up
Apr 20th 2006, 11:42 am
#1
Guest
Posts: n/a
cant make our minds up
[I]hi , has anyone come across this......we are emigrating to oz in sep fingers crossed if the hose sells but that is another thread 
we are renting for two years and going to make oz our new home butttttt
what happens if after two years we want to come home so what we are thinking is we are going to keep half of out money to either put in to buy a house in oz after the two years or the money will go towards the house back in the uk ...we cant make up our minds if to leave the money in a uk bank to gain interest {what about tax?} ir take all with us to oz.....
any advise would be a big help thankyou
we are renting for two years and going to make oz our new home butttttt
what happens if after two years we want to come home so what we are thinking is we are going to keep half of out money to either put in to buy a house in oz after the two years or the money will go towards the house back in the uk ...we cant make up our minds if to leave the money in a uk bank to gain interest {what about tax?} ir take all with us to oz.....
any advise would be a big help thankyou
Apr 20th 2006, 11:48 am
#2
Forum Regular
Joined: Feb 2006
Posts: 159
Re: cant make our minds up
Hi
just work out which would give you the best return on the capital invested. currently Aus has the better bank base rate, but you'll need to equate for tax. Either way you'll be taxed on the interest, whether that is ££'s or $$'s, under your Aus residency status.
Graham
just work out which would give you the best return on the capital invested. currently Aus has the better bank base rate, but you'll need to equate for tax. Either way you'll be taxed on the interest, whether that is ££'s or $$'s, under your Aus residency status.
Graham
Apr 21st 2006, 7:08 am
#3
Guest
Posts: n/a
Re: cant make our minds up
Originally Posted by Max&Ozzy
Hi
just work out which would give you the best return on the capital invested. currently Aus has the better bank base rate, but you'll need to equate for tax. Either way you'll be taxed on the interest, whether that is ££'s or $$'s, under your Aus residency status.
Graham
just work out which would give you the best return on the capital invested. currently Aus has the better bank base rate, but you'll need to equate for tax. Either way you'll be taxed on the interest, whether that is ££'s or $$'s, under your Aus residency status.
Graham
sorry i no this is not my area cheers kez x
Apr 21st 2006, 7:26 am
#4
Forum Regular
Joined: Feb 2006
Posts: 159
Re: cant make our minds up
Originally Posted by kerrie/wayne
thanks graham for the reply looks likes the advise that we have had is to take it all with us while the exchange rate is ok got the risk it will go down when you say capital invested what do you mean sorry i no this is not my area
cheers kez x
sorry i no this is not my area cheers kez x
Hi Kez,
Well, when I say capital invested I mean your £'s, invested. That cash you have is not earned income, it's capital, either as an asset, such as a house, or, cash invested. So you can choose to invest that capital in a number of places of which a savings account is one. Choose the one that gives you the most earned income from that capital. Which place gives you the best return, ie which has the highest interest rate or value to add. Look at the bank base rates and see which companies offer the best savings rates.
Savings is just one option of course and finance people will be able to offer you a whole range of investment options to put your money into. Just go with what you feel most comfortable with and that is greatly dependant upon your views of risk verses gain. High risk high gain, but high chance of a possible loss. Low risk, low gain, banks and savings accounts.
But in the simplest of options I think Aus has the better interest rates at the moment. That's great for investors, but not so great for debtors, such as mortgage and loans, obviously.
Graham
Apr 21st 2006, 7:57 am
#5
Guest
Posts: n/a
Re: cant make our minds up
Originally Posted by Max&Ozzy
Hi Kez,
Well, when I say capital invested I mean your £'s, invested. That cash you have is not earned income, it's capital, either as an asset, such as a house, or, cash invested. So you can choose to invest that capital in a number of places of which a savings account is one. Choose the one that gives you the most earned income from that capital. Which place gives you the best return, ie which has the highest interest rate or value to add. Look at the bank base rates and see which companies offer the best savings rates.
Savings is just one option of course and finance people will be able to offer you a whole range of investment options to put your money into. Just go with what you feel most comfortable with and that is greatly dependant upon your views of risk verses gain. High risk high gain, but high chance of a possible loss. Low risk, low gain, banks and savings accounts.
But in the simplest of options I think Aus has the better interest rates at the moment. That's great for investors, but not so great for debtors, such as mortgage and loans, obviously.
Graham
Well, when I say capital invested I mean your £'s, invested. That cash you have is not earned income, it's capital, either as an asset, such as a house, or, cash invested. So you can choose to invest that capital in a number of places of which a savings account is one. Choose the one that gives you the most earned income from that capital. Which place gives you the best return, ie which has the highest interest rate or value to add. Look at the bank base rates and see which companies offer the best savings rates.
Savings is just one option of course and finance people will be able to offer you a whole range of investment options to put your money into. Just go with what you feel most comfortable with and that is greatly dependant upon your views of risk verses gain. High risk high gain, but high chance of a possible loss. Low risk, low gain, banks and savings accounts.
But in the simplest of options I think Aus has the better interest rates at the moment. That's great for investors, but not so great for debtors, such as mortgage and loans, obviously.
Graham
oh ok i get ya ...thankyou thats great
are you in oz now or waiting ?
kez x
Apr 21st 2006, 8:57 am
#6
BE Enthusiast
Joined: Nov 2005
Location: Melbourne
Posts: 489
Re: cant make our minds up
Originally Posted by kerrie/wayne
[I]hi , has anyone come across this......we are emigrating to oz in sep fingers crossed if the hose sells but that is another thread
we are renting for two years and going to make oz our new home butttttt
what happens if after two years we want to come home so what we are thinking is we are going to keep half of out money to either put in to buy a house in oz after the two years or the money will go towards the house back in the uk ...we cant make up our minds if to leave the money in a uk bank to gain interest {what about tax?} ir take all with us to oz.....
any advise would be a big help thankyou
we are renting for two years and going to make oz our new home butttttt
what happens if after two years we want to come home so what we are thinking is we are going to keep half of out money to either put in to buy a house in oz after the two years or the money will go towards the house back in the uk ...we cant make up our minds if to leave the money in a uk bank to gain interest {what about tax?} ir take all with us to oz.....
any advise would be a big help thankyou
I know someone who sold her house in the UK to move over here, and has allowed herself a year before investing the full amount. Which means she's spending her investment. I don't think it's wise - but it's personal choice. A risk, though, if you do sell, that you'll be tempted to spend rather than save.
