In simple terms please...
Sep 27th 2005 | 7:30 pm
#16
Thread Starter
Joined: Jul 2004
Posts: 6,360
Re: In simple terms please...
Originally Posted by cranni
We had all our money transferred to HIFX , they got us 2.55, which was great , we opened an account with bank west the day we got here, and the money was here 4 days later, it was lovely, not much left now though, im sorry but i want my money in the same country as i am in, good luck darling see u soon. Denise
Reading the replies seems it's just gonna be easier to transfer the money straight away then.... lets hope the rate goes up just a wee bit, $2.35 would be nice!
Sep 27th 2005 | 9:23 pm
#17
A former regular of BE
Joined: Oct 2004
Posts: 6,241
From: Carramar, Perth
Re: In simple terms please...
Originally Posted by bridiej
I know it's been asked before but I have never understood completely.
The exchange rate is pretty grim at the mo. We complete on our house sale this Friday so should have circa £100K to transfer to AU$.
If we were to put this in a high interest account then wait until the rate got a bit better (obviously I am aware it may not) what are the tax implications?
I need an explanation that an amoeba could understand please...!
The exchange rate is pretty grim at the mo. We complete on our house sale this Friday so should have circa £100K to transfer to AU$.
If we were to put this in a high interest account then wait until the rate got a bit better (obviously I am aware it may not) what are the tax implications?
I need an explanation that an amoeba could understand please...!
).But, on no particular basis, I have a gut feeling that the rate will crawl downwards for a while so I will transfer most of it straightaway.
Part of my reasoning is that I may feel a bit smug if the rate goes up but I will kick myself silly if it goes down. Anyway, interest rates are a bit higher in Aus, I think, so once it is over there it can start earning better interest.
