jmm100uk

I'm still here too! It is strange how from time to time there are periods of complete inactivity on the thread - everyone busy crossing their fingers or holding their breath?

jmm100uk

Good luck - I am keeping my fingers (and toes) well and truly crossed for you Let us know how you get on.
Jean

sandch

Best of luck for the journey Cathy, better late than never.

johnschofield10

We are still here anxiously awaiting a CO!! Our daughter in Hobart is informed us that our new addition to the family will be a lady!!

rosalinka

CONGRATULATIONS AND BEST WISHES TO YOUR DAUGHTER.
Hope you get the visa sorted soon and are able to get to Oz for the happy event.
My daughter has just paid the 2nd vac (deep sigh of relief) and I am all set to travel to Oz on Thursday.
Too late to 'evidence' the visa in London, so will soon be planning a short holiday in New Zealand if immi confirm that's ok.
Wishing Cathy and Sue and anyone else jetting off a very pleasant flight.

Vindy

Still here Steve,
Still waiting for our CO to issue the visa grant, posted the receipt to him on the 16th and of course thats when all the flights were stopped because of the ash cloud,
So dont know when the post was back to normal and and when our CO received it
Hope to here soon, will let you all know as soon as

Regards
Les

johnschofield10

Thanks Rosalinka. I hope you have a good flight and all goes well with the validation

donovandenese

are there any cpv holders/applicants now living in Adelaide?

mum has been living here in Adelaide for 7months now. Although she is retired she has been kept very busy so far with buying a house, the arrival of her first two grandchildren, and doing voluntary special needs teaching at a local school.

she is however keen to get in touch with others who have emigrated to Adelaide in a similar way

ruth-phil

I have just been reading through the thread and was sorry to hear the delay Coloneldube had with the flight.Phil & I flew back 23rd April to Adelaide, the first sheduled flight with Qantas after the ash problem. There was the fear of the unrest in Bankok however, but here we are safe & sound. Anyone booking flights via the Bankok route we found it quite tireing so sudgest going via Singapore much less hassel.

Anyway our question is, does anyone know how long we have to bring out our money to Aus without penalties. We really do not want our life savings to be taxed and are anxiously waiting for the exchange rate to go up a bit.Trying to contact the tax office hear has been a nightmare.

We do wish everyone else applying good luck, it is well worth the long wait, our month back in the UK was good but England isnt what it used to be. We now can rebuild our life here as we have a lovely home in SA. Our son and family have made us so welcome and our daughter who we have left behind has backed us all the way, hopefully one day she will join us with her family.

Good luck Jean with your application we will be in touch.

Ruth & Phil

sandch

Hi Ruth and Phil

Once you become permanent residents you'll fall into the caring arms of the Australian tax authorities who will ask you to declare your worldwide assets and income. My understanding is that if these (assets) continue to be held overseas and subsequently rise in value in Australian dollar terms (because you later get a better rate), that "currency" gain will most likely be taxable. It makes sense to read as much as you can and if you think the financial risk is great given your personal circumstances, to get professional tax advice.

Whatever you do, don't rely on what you read on forums!

Cheers

Steve

miscellaneous

I too have a question??? please can anyone tell me, if I purchase a unit/house in the next few months, before my cpv is granted, do I get the house grant in retrospect, once I am official???

Also am I allowed to buy in my name now??? as have managed to buy a car and register it, so does this apply to a property as well??? I am looking round at the moment, as getting slightly worried at the rapid increase of the property market if I leave it much longer, being in the lower bracket, it seems many investors are snapping them up, rather than stocks ans shares!!!
I have taken on board your comment Steve re transfering the money, better maybe it is put into a property now? rather than pay tax on it.

If the above question is not viable, can it be brought in one of my Childrens names, they would not get the grant, but when I am official, could it be transfered to me and then I get the grant?? although this would mean double legal fees I guess?

regards
Elaine.

charlie5

hi

I am just fillling in the forms for first time buyers grant myself. It appears you have t be a permanent resident to apply because you have to supply details of visa etc. However, it is not clear if you can make a retrospective claim.

We have just gone through the process of making an offer and exchanging contracts on a house purchase. We decided that life is too short to leave our cash in the UK and have taken a major hit of the transfer.

Charlie

donovandenese

hi, you wouldnt get the 1st time homeowners grant if you arent an australian permanent resident when you purchase the house. There are also some rules regarding non residents purchasing property - i think approval is required from FURBS, worth checking out.

If your children were to buy the house for you there would be tax implications at the time of transfer to you - they would be liable to pay capital gains tax on any gain in value between when they purchase it and when they sell it to you. also, stamp duty would be payable again on the tansfer to you. stamp duty is a significant cost and would most likely be more than any 1st time homeowners grant you may get.

sandch

Hi Charlie

Another few months of the mess over here and it will be an even bigger hit methinks. 5 years of austerity ahead is what the politicians don't dare tell us. It's heartening to think that we can go and live somewhere else!

Great to hear you are sucessfully putting down roots over there and I hope you are very happy in your new home.

Cheers

Steve

sandch

You can buy as a non-resident of course but as mentioned above rules apply. Also remember no-one can predict the movement of exchange rates, property prices and any attempt to do so would be simple speculation, which has loss risk associated with it.

The tax issue is related to when you become a permanent resident in Australia. From that point onwards, if you leave your assets in foreign currency you are exposed on the one hand to adverse movements in currency rates (that rate could get worse, believe it or not) and on the other to an Australian tax issue. If at all possible, and if you are committed to residing permanently in Australia, it's better to remove the speculative element as far as possible. However until you become a permanent resident, you need to weigh up the risk of not getting a visa (it's not guaranteed is it?) and whether to move funds into dollars and if so how much and when.

Each of us has different circumstances. We for example have a daughter still in the UK, so to some extent we have to plan for some vague ongoing commitment here as well as Australia. Others will just go to Oz and stay for ever.

Finally tax planning is important, but I believe it should never drive your plans (it's the tail not the dog). I just like avoiding nasty surprises, so a bit of research is never a bad thing.

Best of luck with all the planning!

Cheers

Steve