About Us
You and your finances when emigrating to Australia If you and your family are hoping to emigrate to Australia, along with the things you have to do to obtain a visa and permits to enter the country, serious consideration must be given to your financial situation and how it may change once you get to Australia. There are things such as employment for you, your spouse and any children, any pensions you may have in the UK and whether an Australian pension transfer is the right thing for you. The only way to properly consider any effect on finances is to find reliable Australia financial advice. To help you ask the right questions and give you food for thought, here are some things you may need to consider. Work for you and your family In many cases, emigration to Australia can only proceed if you have work to go or if you are normally employed in a highly skilled occupation. Doctors and lawyers for example can often find work before going to live in Australia. Of course you may plan to open your own business in Australia. Another way of emigrating to Australia is to be sponsored by someone who is already resident there. This could be a member of your family, a friend or prospective employer. It is vital to your emigration process that you are going to be financially secure in Australia and not be a drain on the social security system once there. You need to ensure that you are going to be able to find work easily and within a reasonable amount of time. You need to be able to plan your finances to ensure you have a good living standard and can manage financially whilst looking for work. State and private pensions Another vital consideration when planning your emigration to Australia is your pensions which are key to your long term future. Australia has a good pensions and superannuation system and if you have any private or company pensions in the UK you need to give full consideration as to whether or not it is right for your circumstances to transfer these to Australia. Whilst this is the best way for many people because of the tax benefits from doing this, it is not right for everyone. A transfer can only be made providing the pension is not being drawn on – in other words if you have not reached retirement yet. It is not possible to have a state pension form the UK paid into an Australian bank so you will need to make arrangement s for this to be paid into a UK bank and then transferred to Australia from there. Stocks and shares You may decide that you want to keep any stocks and shares you have in the UK. Of course you may feel that a complete change is necessary. The choice will be down to your own preference and which is best from a tax and financial point of view. It may be best to cash any shares in and then buy more when you get to Australia and invest in something in your new home. Finding out what is best for you The best way to find out about how all the above things can affect your financial security in your new home is to find an expert in Australian finances. Often an expert will be able to think of many things for you, many that you will even have given a second thought to so it is vital to get the right advice to make sure your new life is stress free and financially secure. Search for companies who have expertise in all areas of emigrating to Australia, such as Montfort International, who have experts on hand both in the UK and in Australia that you can contact whenever you need advice about your financial planning. A company such as this will be able to give Australia financial advice and information about Australia pension transfers and how financially beneficial it could be for you.