stuartmac

When we come out later this year it will be several days after house sale goes through. Regarding money from the sale, what is the best way to take - transfer from current uk account, open an account prior to going to oz and transfer straight into it, or open an offshore acount. I have been told several different things due to tax liability etc...........please help.

NedKelly63

Have a look here

http://britishexpats.com/forum/showt...hreadid=240919

Wol

I am not an expert but I would have thought that tax-wise, if you're selling your only/primary home, and as long as the money arrives in Oz within a reasonable time, the mechanics of the transfer makes not a jot of difference.

One method would be to buy the Oz dollars here, send the cheque to the FX agent and ask them to hold the cash in an interest bearing a/c until you phone them. Go to Oz, open your account and arrange the transfer.

Opening third accounts just for one transfer seems a bit excessive.

If you go just after the house sale, what with the delay in settling here anyway, even without getting ANY interest for a few days isn't the end of the world.