No fees for FXcompared users
No Fees for FXcompared users.
There are no restrictions transferring money from the UK to Australia. Australia has long been the most popular destination for British expats to move to. According to the UK’s Department of Work and Pensions, and the Institute of Public Policy Research, of the some 1,062,000 expats living in Australia in 2012, 251,000 were retired and had moved permanently. Melbourne and Sydney two of the most sought after destinations. Similarly, the UK is one of the most popular destinations for Australians to emigrate to, whether for study, an extended work and travel stay, or long-term. Australia is one of the main destinations of overseas money transfer flows from the UK.
There are a number of visas that Britons can obtain to move to Australia either temporarily or permanently. Skilled Independent Migration visas are usually for professionals such as accountants, engineers and dentists. The Employer Nomination Scheme is suitable if your UK based employer is sponsoring your move out to Australia. Finally, if you are British and wish to either invest, set up a business or retire, there is an entrepreneurial visa category called Business Migration.
The main banks in Australia are the Australia and New Zealand Banking Group (ANZ), Westpac, Commonwealth Bank of Australia and National Australia Bank. Opening a bank account in Australia is relatively easy and some UK based banks also have operations in Australia and you will be able to transfer pounds to Aussie dollars where you need to. Given the volume of the pound-dollar transfers, there are a number of specialist money transfer operators who can transfer funds quickly and cheaply.
The UK tax year runs from April 6th to April 5th, in contrast to the Australian tax year which runs from July 1st through to June 30th. Bear this in mind when planning your move and how it will impact your taxes. Australia and the UK have a double tax treaty with the UK but not all items are covered so be sure to check if any of your income streams may be affected.
Australia’s public healthcare system is known as Medicare and all Australian citizens and permanent residents have access to it. As the UK has a Reciprocal Health Care Agreement with Australia, so even if you are on a temporary visa, you will still be able to have access to Medicare. You may have to a pay a medical surcharge.
For Australians in the UK, the National Health Service is free (although not all services, such as dentistry are free). Hospital services are free to residents, but non-residents will be charged. Anyone planning to planning to live and work in England will have to register with a general practitioner (doctor).
You can bring your pet to the UK making use of the Pet Travel Scheme (PETS) and the UK Government includes Australia as an accepted country. If your pet has a veterinary certificate that shows that they have had all their inoculations these are all up-to-date, they can be brought into the UK without undergoing quarantine. The one exception for Australia is for cats. Cats are prohibited from entering the UK from Australia unless they are accompanied by a certificate from the Australian Veterinary Authorities confirming that they have not been on a holding where Hendra virus has been confirmed during the sixty days prior to them leaving Australia. For further details on the list of animals and the procedures, check with the UK government websites.
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