fizzbot5

Quick question - can anyone tell me if you can set up a post office box/address anywhere on line before you go. We are going into temp accomodation for only a month when we get there and then hopefully rented so thought it would be easier to have a PO box instead.

Also have a account with Nationwide where we were going to keep our money and just move money as when we need it over to our Commonwealth account.Nationwide told us today that we couldn't do this via the internet as because we would be resident in another country by then we would have to do it in person at the branch to avoid fraud - is ther any way around this as with the currency rates low we were going to wait until they had moved higherr again before transferring any money.
HELP!!!

Pollyana

Just leave the money there, carry on using a UK address - get the statements or whatever sent to a friend, and the Nationwide won't know you've left. I move money all the time over the net between the two countries, and I know lots of other people on the site do as well.

JackTheLad

And of course its all perfectly legal, and has no tax implications.... :scared:


JTL

Pollyana

If it were illegal to move money between countries over the internet, I suspect companies such as tranzfers would not exist........

As for tax implications - with the small amount of money I move, its not really relevant, just enough to pay the loan repayments ; I'm never likely to be moving a large amount unfortunately

worzel

I have got a cash ISA with Nationwide. I have forgotten my net banking password for it (there's another thing for my to do list) but I have a feeling that this sort of account can't be withdrawn from or transferred from on-line. You need to use your passbook in a branch. I will let you know if I find out any more.

worzel

I don't think it is the moving that is a problem. I think JTL was implying that if you leave it in the UK and earn interest you have to declare it on your Aussie tax return. Which I am sure everyone does.

Pollyana

I dream of having the sort of money that earns interest

JackTheLad

I'm not really that much of a tax expert!

I was just wondering if we are supposed to be paying tax on the money going back and forth from the UK. God knows I do it alot myself. (I was only joking pollyana). It just feels like I can't do anything in Oz without paying tax, so it feels a bit weird passing money back and forth. There must be a tax man around here somewhere

JTL

fizzbot5

Thanks everyone, this is where this site proves invaluable!
Will do as suggested and use a UK address.

Any info on PO Boxes ? Would be much appreciated as well!
Flying in 3 weeks hence the panic