Hi, when i sell my house in uk. When is the best time to transfer the money? Should we wait until we get a Tax file No then transfer, or does it not matter?

how easy is it to transfer proceeds from house to an acocunt in oz when i will be living in oz?
Or do i keep the uk bank account open whilst living in oZ?

simon

The only real implication will be depositing funds in a bank account without a tfn means the bank will withold 48.5% of any interest (you'll get it back as a credit in your tax return.

Other than that no implications.

I work for an accountant firm in Oz - check them out - http://www.southerntaxationservices.com.au

I am not sure of the tax implications if any, check http://www.ato.gov.au.
But as far as transferring money, it's pretty easy. I use http://www.hifx.com. To open an account you need to fax them an application form and copy of passport.

It is handy to keep a (fee free) UK bank account, with some money in it. Useful when I need a rellie to buy something for me like birthday presents when I've forgotten someone's birthday etc, or the family is clubbing together for a big present -easy to transfer the cash to them.