[redversus]

Hi guys,

My partner and I will hopefully be moving out to Australia in early June and are now trying to set up a standard bank account before we leave. We have decided to go with NAB and during the application process, it asks if I am a resident for tax purposes in any other country. Technically I'm currently a resident for tax purposes in the UK because I've lived here my entire life, but we plan on making the move to Australia permanent, so am unsure what to put for this question?

Any advice would be greatly appreciated!

 

[jon the hat]

Hi guys,

My partner and I will hopefully be moving out to Australia in early June and are now trying to set up a standard bank account before we leave. We have decided to go with NAB and during the application process, it asks if I am a resident for tax purposes in any other country. Technically I'm currently a resident for tax purposes in the UK because I've lived here my entire life, but we plan on making the move to Australia permanent, so am unsure what to put for this question?

Any advice would be greatly appreciated!

I would imagine this related to whether they deduct tax or not, so I would say no as by the time you have interest you will probably be there anyway.

 

[JandE]

We have decided to go with NAB and during the application process, it asks if I am a resident for tax purposes in any other country. Technically I'm currently a resident for tax purposes in the UK because I've lived here my entire life, but we plan on making the move to Australia permanent, so am unsure what to put for this question?

Any advice would be greatly appreciated!

That is a common question now following new inter-country tax information sharing.
It will probably be done by all banks.

All that happens is any interest on the bank account will be notified to the UK tax office, and probably the bank balance details too.

Australia will soon be automatically sharing Financial Data with UK