What's your prediction on the Australian Dollar?

I'd try to organise one from Australia.

This article may also be of use: Can you open an account without proof of address? - Banking - Guides - Moneyfacts

I have proof of address in the UK. I own a house, pay water rates, electricity, gas etc. The problem is the visitors stamp in my passport is not acceptable to the 4 banks I have tried.

If you know someone in the UK, you can get an Australian bank / credit card statement issued to the UK address, then use that as proof of address. That's a workaround a few people I know have used as it can otherwise be difficult. Bar using the (paid) HSBC route for example, you have limited options as they tend to want proof of UK address.

I tried that with my Commbank credit card, but the statements never reached me, and where returned to the bank, which caused problems as they "didn't know where I was" even though my other accounts where correctly addressed.
 
I tried that with my Commbank credit card, but the statements never reached me, and where returned to the bank, which caused problems as they "didn't know where I was" even though my other accounts where correctly addressed.

I've found Citibank to be pretty good for this - tried with multiple people and always worked a treat.
 
I'm hoping for a weaker aussie. Expecting to convert 1 mil in next 3 weeks.

For anyone holding FX just be aware that non-Aud assets may be considered an asset for CGT purposes. There are a number of exemptions and elections available but it would be wise to research/take advice when it comes to large value transactions.
 
For anyone holding FX just be aware that non-Aud assets may be considered an asset for CGT purposes. There are a number of exemptions and elections available but it would be wise to research/take advice when it comes to large value transactions.

Your ref. is to active assets.
 
Your ref. is to active assets.

I suggest you take advice or DYOR. Foreign currency is a specific example of a CGT asset. There are exemptions and elections available for personal use and low balance accounts, but you may want to review the ATO guidance, private rulings and adviser commentary on the issue given the $ you are dealing with.
 
I suggest you take advice or DYOR. Foreign currency is a specific example of a CGT asset. There are exemptions and elections available for personal use and low balance accounts, but you may want to review the ATO guidance, private rulings and adviser commentary on the issue given the $ you are dealing with.

Thank you. I'm pretty well-versed with my situation.
 
I suggest you take advice or DYOR. Foreign currency is a specific example of a CGT asset. There are exemptions and elections available for personal use and low balance accounts, but you may want to review the ATO guidance, private rulings and adviser commentary on the issue given the $ you are dealing with.

What's considered a "low balance account" (ballpark figure) ?
 
Google forex $250,000 balance election. Also the Taxation Institute has a paper which discusses some of the issues "Lost in translation: Forex case studies" There's some decent info on the ATO website. Again I'm not giving advice; just want to ensure people realise there *may* be CGT consequences of FX holdings/transactions.
 
If only I had a time machine to go back to March,2012 to pick up some USD.
I guess a bit over 0.70 is still just fine.
 
I'm still waiting for some clients to pay their bills in USD. Once they come through, I'll be ready for a re-bound.

The opposite of 'NIMBY' comes to mind...
 
You'll likely get more aud's for those usd's.

AUD has dropped to low .6921 today so far.
 


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