British citizens moving to Australia or New Zealand and planning to transfer their pensions there, may be in for a nasty surprise; a tax charge of a whopping 55% due to new rules that came in in April. Under these new rules, savers are enabled to take their entire pensions with them to another country as one pot of cash, but are also not allowed to access these savings before they turn 55, apart from in the case of early retirement for health reasons.
For the last two decades, it's been no secret to British professionals that there is more money to be made outside the country - up to 25% more, in fact. For general practitioners in the UK, this has meant packing up and shipping to Australia, leaving England's National Health Service (NHS) scrambling to handle a shortage of medical professionals in the country - but, there could be a simpler long-term solution to consider.
Australia Day, celebrated on January 26th, has always been a popular day for the country to welcome expats as new citizens. Ceremonies for new citizenship occur throughout the calendar year, but many enthusiastic citizens-to-be choose to have their ceremony on days that are special Down Under
If you have a home to sell in Western Australia, it may be a profitable idea to wait until January. This is because of the social trend of expats returning home during the holiday season in Australia - and as this trend continues to grow, so does demand for property at this time of year.
The syrian expat community of Australia, backed by foreign support, gathers in Sydney to hold a vigil for those who have died due to the conflict in Syria.
Now might be one of the best times for moving to Australia as skill shortages across the country make getting your foot in the door much easier.
According to another survey on British expatriates in Australia, the majority of respondents agree that living abroad has been more enjoyable than life back home.
Earlier this month Australian officials announced that construction plans for the Roy Hill mine have been set into motion. The iron ore mine is expected to begin production in 2014.
Australian companies which hire new workers aged over 50, for 3 months or longer, will receive £650 from the Australian Government.
Australia has traditionally been the UK's number one destination for Brits wanting to move abroad.
The Federal Government of Australia plan to increase the targeted numbers for the 2012- 2013 migration program.
UK professionals and students interested in living and working in Australia might have to act sooner rather than later in finding a good placement.
Earlier this month Sydney released a report which outlined new plans designed to attract high value migrants to the city. The report included proposals which would make life easier for migrants who make large investments in the state. Obtaining visas and gaining permanent residency were a couple of incentives on offer. In addition, the work rights of post-study students are looking to be extended.
Currently, British expats which are drawing a pension and residing in Australia do not get pension increases in line with inflation.