Sooty has cancelled for now!
 

Hi,

The exchange rate has killed it for me for now, there is no way Australia can seem to me to be a place where i could emigrate to at the current rate of exchange. I never thought it would ever go this low, maybe lower.:D

We are moving our flights with Singapore to next August, at no extra cost, you can go online and change the dates, as long as you have a Flexei fare and booked on the Singapore website.

We have cancelled our two week short term accomodation, lost the deposit, so £200.

We have had to ship out box's back, as they have not arrived yet, but Seven Seas will ship them back, they got there, we did not!:rofl: They will be back just in time for Xmas, at a cost of £350 on top of the original cost.

So all in all we lost about £1000.00, but the way the exchange rate is, we would be at least £5k worse off in the first 3 months. Who's to say, how bad it could get?

We will get there, but the time is just not right for us at the moment.

Good luck to all who go soon.

Sooty:thumbsup:

Re: Sooty has cancelled for now!
 

Bummer. Hope you can still make it in the future.

Re: Sooty has cancelled for now!
 

If the time's not right, it's not right so well done on biting the bullet. Aus isn't going anywhere so enjoy the extra year in the UK and look forward to your future lives wherever that may be :D

Re: Sooty has cancelled for now!
 

Hi Sooty

We made the same decision to cancel our flights back to Aus, in June. As far as we were concerned the cost of cancelling was a small price in comparison to exchanging at such a poor exchange rate. Australia isn't going anywhere so we will stay here for now and see how the rate changes over the next year. Hopefully like you we will be out next year.

Good luck. :)

Re: Sooty has cancelled for now!
 

we may delay too, still have house to sell which has just gone on market so in the time that takes to sell we'll see what happens with exchange rates.

Could still go but will need to leave cash in UK which puts pressure on to find work but we may just give that a go yet!

Then of course I've read that the taxman can hit you for tax on the gain if you move your money at a later date.

Looks like there are a few of us being held over a barrel at the moment by exchange rates! :eek:

But forex is a volatile thing and who knows what the next shock could be anywhere around the world - we may all just get another bite at a decent rate in next 6 months, I have my theories but don't share them as all the £ bullies mock anything £ - there are more shockwaves to come though I think!

Good luck all, we'll all get there eventually!!!

I started another thread a while ago suggesting Rudd uses some stimulus money to get the likes of us there by offering a 2.40 to 2.50 to immigrants bringing over decent amounts of money. It would bring alot to their economy as would means houses, cars etc being bought but as it stands people not willing to go! The thread hasn't had a post in ages but look it up Title "stimulus idea Mr Rudd" or something along those lines.

:fingerscrossed:

Re: Sooty has cancelled for now!
 

We are still heading out there in 3 weeks time :unsure: not got loads of cash to send over but enough to live off for a good year, had 3 reassuring emails regarding jobs in the last couple of weeks so will hopefully be earning dollars sooner rather than later :fingerscrossed:. We dont have much choice not to go now as living in a rented house that is not big enough for us, 3 of us finish our jobs at the end of this week and both the kids are due to start uni/tafe next year. Would still be nice for the £ to get back to 2:1 though ;) which it will probably do the minute we exchange ours :blink:

Jon

Re: Sooty has cancelled for now!
 

I am sorry to hear that. We too have had our doubts but can't delay - it's taken so long already and we are 41 and 44. I wish we were more knowledgable about finances but as a nurse and scientist we are pretty much clueless about predictions for exchange rates and such. Read on here all the time but end up more confused :D:confused: Good luck for whenever is the right time:) Lou

Re: Sooty has cancelled for now!
 

The average value of the GBP to AUD historically is 2.3

Australia is not exactly crying out for more immigration. We exceed our visa allocations set by the minister for the popular types each year, as can be shown by the people on here bemoaning that fact annually. There are plenty of other nations or migrants who are quite happy to take the place of those who feel the currency exchange rate is not to their liking.

Moreover, each migrant is looking for a job when they arrive. A job in an economy and market which is facing rising unemployment. Giving jobs to immigrants is not exactly up there on the political agenda of our government.

That said, it's quite a blow to some people I'm sure given I recall our excitement of the prospect of moving as it came closer to the day. Here's hoping that you find circumstances better in the near future.

Re: Sooty has cancelled for now!
 

Hi Sooty

Sorry you've had to put off your Aussie adventure until next year but only you can know what is the best thing to do in your circumstances.

I know it's hard - it took us so long to get a visa and actually get ourselves out here it just seems to consume your life!

As you say MrCro there is quite a few quid waiting to be pumped into the Aus economy and I'm sure it will correct itself at some point. The strong $ isn't too good in the long term as it affects all sorts of things.

I think if you know you could get employed fairly quickly then it's still worth coming if you can sit on your money for a while. I still think that if you have to pay anything on your gain it will still be better overall. I worked out bringing ours over now and putting it in a higher interest account here but even a 2c swing in favour of the pound cancelled out a years worth of the extra interest here - so it may as well stay in the UK for now and fingers crossed it does improve.

Good luck to everyone who has to make this decision!

KK

Re: Sooty has cancelled for now!
 

Lorna at Vicenza and my good friend MartinLuther, thankyou for my karma


:thumbsup::thumbsup:

Thanks all, good luck to all going before Xmas!!! Sooty:thumbup:

Re: Sooty has cancelled for now!
 

>>Then of course I've read that the taxman can hit you for tax on the gain if you move your money at a later date.<<

Not true: if you haven't become tax resident there can be no liability.

It's different if you actually arrive but delay bringing over substantial sums.

Re: Sooty has cancelled for now!
 

Not much work for puppet's these days,time are tough;)

Re: Sooty has cancelled for now!
 

What a job, standing there all day with someones hand up your a**e:rofl:

Re: Sooty has cancelled for now!
 

Rudd seems to like it:D

Re: Sooty has cancelled for now!
 

Exchange rate to hit the floor until tories in -but could it recover from 1-40 / 1-50 back up ?

Dont blame ya for holding off tho...