Transfering money from the UK
Jun 17th 2005, 6:42 am
#1
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Thread Starter
Joined: Nov 2004
Posts: 21,374
Transfering money from the UK
How long do you get to transfer funds without paying tax on them
Jun 17th 2005, 8:05 am
#2
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Joined: Mar 2005
Location: Berwick,Melbourne.
Posts: 244
Re: Transfering money from the UK
Originally Posted by fraser
How long do you get to transfer funds without paying tax on them
When you have a "few" pounds to convert the rate can make a difference of several thoudand dollars.
Are you going to Melbourne Fraser?
Tracy
Jun 17th 2005, 8:07 am
#3
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Thread Starter
Joined: Nov 2004
Posts: 21,374
Re: Transfering money from the UK
Originally Posted by TracyAnne
Just thought I'd BUMP this thread as I too would like to know the answer. We will have the money from our house sale by the end of July but will not be going to Melbourne until November. If the rate does not improve we thought about opening an ofshore account and then transferring the money when the rate improves.
When you have a "few" pounds to convert the rate can make a difference of several thoudand dollars.
Are you going to Melbourne Fraser?
Tracy
When you have a "few" pounds to convert the rate can make a difference of several thoudand dollars.
Are you going to Melbourne Fraser?
Tracy
Jun 17th 2005, 8:09 am
#4
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Transfering money from the UK
Originally Posted by fraser
How long do you get to transfer funds without paying tax on them
http://britishexpats.com/forum/showthread.php?t=284559
You will have to pay tax on any interest earned if you invest the money.
The capital is not taxed on transfer.
This is a complicated area.
G
