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Looking for guidance on bringing across a UK contribution pension scheme. But have some questions. Quick current status summary. We have been in Australia for 4 years first on a 457 and got granted our PR Sept 2016 (so have missed out on getting our Citizenship in September this year). We are in our mid forties. Assuming we do eventually get Citizenship and can afford to retire here my questions are: Is there tax payable if we bring across our UK pensions and put them into an Australian super fund? Ive seen some information around needing to leave the money in the fund for 5-10 years. Are we therefore best to look to bring it across now? Whats the earliest Australian super funds can be accessed come retirement? Is there limits to time spent abroad if you're drawing from your superfund in Australia. For example when retired up to 6 months is spent travelling a year. Whats the implications if the pension funds are left in the U.K. And then we draw down on them once retirement comes? if anyone has experience of retiring here it would be great to here from you. Many thanks
I'm planning on coming over to Australia on a working holiday visa for about 6 months. I will be living with my step dad and his wife in their home in Perth. My step dad will be supporting me whilst I look for employment. Do I still need to have savings in my own bank account even though my step dad has the right amount and more to look after me until I find a job out there? If so - is it possible for him to transfer the money into my account to show that I have the money, and then when I get over there... I just transfer the money back into his account? Or is that illegal? Thanks!
TheMackemSlayer posted a topic in Money & FinanceHi folks! Myself, my girlfriend and our two children intend to ditch the doom and gloom of the UK in favour of a new life in Australia ASAP but could really do with some help and guidance in regards to how much money would be required before we're able to set a realistic date for our arrival. Okay, so I've done some research of my own and here's what I've come up with: $4,500 to pay for our flights $2,000 to secure a rental property $6,000 to cover our first three months rent $2,500 to allow for three months worth of food TOTAL: $15,000 (just over £8,000 - feel free to correct me if this is wrong) Please bare in mind that I have very little knowledge in regards to day-to-day living costs in Perth and therefore I've had to guesstimate most of those sums. Anyway, I would now like to find out a little more about other expenses, such as utility bills, mobile phones and anything else we may need to budget for in order to ensure that our move goes through without too many hiccups. Any advice/suggestions would be greatly appreciated. Cheers, Gary.
Hi Everyone, Newbys to the site so still trying to find our way around. A little introduction...We are the Bridge's made up of me (Allie), my husband and our 2 year old son and we currently live in the North West. We are well underway in our move to Perth and have just been called for medicals and police checks - reality is starting to hit home! We are very much looking forward to our adventure but, as many probably are/were, a little scared/nervous about starting all over again. Advice greatly welcome on any settling in techniques!! We have recently started being contacted by financial companies/advisers and this is something we really know little about - do we really need them??!! We are in the process of getting our house on the market but aren't sure what to do with the money once we sell - do we keep it in a British account or transfer it all across?? Any words of wisdom / useful links would be much appreciated... Hope some of you can help Bye for now x