Leave or bring money back from Australia?

Bartoni79

Hi,

I’ve got a fair amount of money in Australia (30k) sitting in a bank account and I’m trying to work out if I should bring it back. I don’t need it at the moment however, with brexit happening, the Aud going down and making paltry returns in my Aussie accounts vs SAS funds, I’m unsure whether to leave it or bring it back. I’ve tried to open fund accounts over there but being a non resident and not having an Aussie addres, companies don’t seem to allow this. Could anyone advise?

Tanks

diggingdude

Could you use this money to develop property in your other post?

elephantrosie

leave it in aus. the saving interest is much higher there. with brexit, gbp is unpredictable.

Voyager2002

If you could, how would you want to invest it?

Because once it is exchanged into sterling you could then invest it in shares or bonds that do not depend on sterling (for example, in Australian companies).

ag120

Are you likely to move back to Australia at some point? If so I'd say leave it there. If you do decide to move it to the UK I'd suggest researching the best way to make the transfer. Exchange rates and bank fees can bite in to the amount you receive.