I have just been into one of many Banks here in Australia, I will not be working here but I will be flying through here every 6 weeks or so on Business.
The interest rates are 5-6% and paid monthly on the entire balance of the account. Not like Ireland I believe that you don't pay any kind of DIRT. As I am not a resident I was informed I may have to pay a witholding tax of circa 10% on interest earned. There is no management fees or catches. You just leave the money in for as long as you want and take it out when you want.
The only slightly negative things is that it is AUS$20 to send money home to Ireland (Pretty Standard) and the cash card you are given is only good in Australia.
I can get paid directly into the account from my company in AUS$ so it will not cost me anything to lodge money in.
I am not to up to date on the exchange rates flucuation over the past year or so but it seems pretty stable for the moment.
Can anyone tell me is there anything bad about this or am I missing something...
Cheers in advance,
Allen
The interest rates are 5-6% and paid monthly on the entire balance of the account. Not like Ireland I believe that you don't pay any kind of DIRT. As I am not a resident I was informed I may have to pay a witholding tax of circa 10% on interest earned. There is no management fees or catches. You just leave the money in for as long as you want and take it out when you want.
The only slightly negative things is that it is AUS$20 to send money home to Ireland (Pretty Standard) and the cash card you are given is only good in Australia.
I can get paid directly into the account from my company in AUS$ so it will not cost me anything to lodge money in.
I am not to up to date on the exchange rates flucuation over the past year or so but it seems pretty stable for the moment.
Can anyone tell me is there anything bad about this or am I missing something...
Cheers in advance,
Allen