What to do with AUD100,000 for 3 months?
Dec 3rd 2004, 12:30 pm
#1
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Thread Starter
Joined: Dec 2004
Posts: 2
What to do with AUD100,000 for 3 months?
Hi - My immigration bond has just reached the 1 year mark and it has automatically been closed and transferred with interest to an aussie bank account that I had from ages ago when I went backpacking years ago.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
Dec 3rd 2004, 12:43 pm
#2
Account Closed
Joined: Jul 2004
Posts: 4,235
Re: What to do with AUD100,000 for 3 months?
Originally Posted by RobertUK
Hi - My immigration bond has just reached the 1 year mark and it has automatically been closed and transferred with interest to an aussie bank account that I had from ages ago when I went backpacking years ago.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
I could recommend the Commonwealth Bank of Hels!!
I cant guarantee a high return tho...in fact you might find you wont get any of your money back........
But I promise to take very good care of it....
(Sorry I cant help with a more practical ideal....but this would be my first choice for YOUR $100k)
Dec 3rd 2004, 12:50 pm
#3
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Joined: Jan 2004
Location: Melbourne
Posts: 400
Re: What to do with AUD100,000 for 3 months?
Originally Posted by RobertUK
Hi - My immigration bond has just reached the 1 year mark and it has automatically been closed and transferred with interest to an aussie bank account that I had from ages ago when I went backpacking years ago.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
It is sitting there with about 0.3 APR interest! The NAB say I can put it in to a Higher Rate account at 5.00% APR less tax.
Is this the best place to put it and where can I find easy access to a higher APR.
I'm still in the UK, have got my PR and will go in Feb/March 2005.
Regards
Robert.
Dec 3rd 2004, 12:52 pm
#4
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Joined: Jul 2004
Posts: 4,235
Re: What to do with AUD100,000 for 3 months?
Originally Posted by Jimbo9
http://www.ingdirect.com.au are offering 5.25% - you would make $1255 before tax over the period - better than a poke in the eye !
Shhhhhhhh...dont give him other ideas...
I am sure he is busily contemplating my offer and ya never know...I might just stand a chance!!!
Dec 3rd 2004, 12:59 pm
#5
small steps long journey
Joined: Aug 2003
Location: A river somewhere
Posts: 3,451
Re: What to do with AUD100,000 for 3 months?
Stick it all on the favourite in the 3:40
Dec 3rd 2004, 1:02 pm
#6
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Posts: 8,441
Re: What to do with AUD100,000 for 3 months?
Originally Posted by seang
Stick it all on the favourite in the 3:40
Racing Demon - 8/11 ... don't like them odds ...
Dec 3rd 2004, 1:04 pm
#7
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Location: A river somewhere
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Re: What to do with AUD100,000 for 3 months?
Originally Posted by Deadmeat
At Sandown?
Racing Demon - 8/11 ... don't like them odds ...
Racing Demon - 8/11 ... don't like them odds ...
Dec 3rd 2004, 1:05 pm
#8
NorthLakes, Brissy
Joined: Sep 2004
Location: Bridgehaven release - North Lakes!
Posts: 2,423
Re: What to do with AUD100,000 for 3 months?
Shoe box under your bed - best place for it, well thats where i keep all my money. wibble
Dec 3rd 2004, 1:06 pm
#9
small steps long journey
Joined: Aug 2003
Location: A river somewhere
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Re: What to do with AUD100,000 for 3 months?
Originally Posted by wargod
Shoe box under your bed - best place for it, well thats where i keep all my money. wibble
Dec 3rd 2004, 1:10 pm
#10
NorthLakes, Brissy
Joined: Sep 2004
Location: Bridgehaven release - North Lakes!
Posts: 2,423
Re: What to do with AUD100,000 for 3 months?
Originally Posted by seang
That reminds me what is your address again .Want to errrr send a christmas card .Yeah thats it I want to send a christmas card to your address
C/o HMP Wormwood Scrubs
A Wing Cell 15 (Lower Bunk)
PO Box 757
Du Cane Road
London
W12 OAE
Dec 3rd 2004, 1:41 pm
#11
Just Joined
Thread Starter
Joined: Dec 2004
Posts: 2
Re: What to do with AUD100,000 for 3 months?
Thank you. The ING Direct account looks good at 5.25%. However, I was thinking whether any fancy off shore products might be appropriate so as to avoid unnecessary tax liabilities?
Dec 3rd 2004, 2:52 pm
#12
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Posts: 8,441
Re: What to do with AUD100,000 for 3 months?
3.40 Sandown
1 - 6 Murphy's Quest 25-1
2 - 4 Without A Doubt 7-1
3 - 3 Racing Demon (IRE) 4-5 F
Winning Trainer - Lady Herries
Winning Jockey - L Aspell
10 ran
1 - 6 Murphy's Quest 25-1
2 - 4 Without A Doubt 7-1
3 - 3 Racing Demon (IRE) 4-5 F
Winning Trainer - Lady Herries
Winning Jockey - L Aspell
10 ran
Dec 3rd 2004, 3:16 pm
#13
small steps long journey
Joined: Aug 2003
Location: A river somewhere
Posts: 3,451
Re: What to do with AUD100,000 for 3 months?
Originally Posted by Deadmeat
3.40 Sandown
1 - 6 Murphy's Quest 25-1
2 - 4 Without A Doubt 7-1
3 - 3 Racing Demon (IRE) 4-5 F
Winning Trainer - Lady Herries
Winning Jockey - L Aspell
10 ran
1 - 6 Murphy's Quest 25-1
2 - 4 Without A Doubt 7-1
3 - 3 Racing Demon (IRE) 4-5 F
Winning Trainer - Lady Herries
Winning Jockey - L Aspell
10 ran
Dec 3rd 2004, 9:43 pm
#14
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Location: UK 2 Oz, Oz 2 UK, Been there, done that, got the tee-shirt!
Posts: 773
Re: What to do with AUD100,000 for 3 months?
I asked more or less the same question but our money is in the uk. Still don't know what to do 
Mandy
Mandy
Dec 3rd 2004, 10:11 pm
#15
life begins again...
Joined: Jul 2003
Location: doncaster..then scunny... now canberra.
Posts: 1,790
Re: What to do with AUD100,000 for 3 months?
not sure if this will help but i think you should take up hels on her offer. I think it's a very serious and good offer which you should take while you can!
... (ok maybe it has something to do with her promising me 50% of it if you do... )
actually could you claim that as a tax loss? ok i'll shut up now.
seriously though i dumped 100K in a st george account for 6 months when i first got here. i can't touch it until april but it's earning just over 5%. it'll do me. i wasn't bothered about the interest but it's a great way to stop me from spending it!
... (ok maybe it has something to do with her promising me 50% of it if you do...
)actually could you claim that as a tax loss? ok i'll shut up now.
seriously though i dumped 100K in a st george account for 6 months when i first got here. i can't touch it until april but it's earning just over 5%. it'll do me. i wasn't bothered about the interest but it's a great way to stop me from spending it!
Last edited by scutterUK; Dec 3rd 2004 at 10:16 pm.