Thousands of Brits moving to spectacular city with tripled salaries sent warning

Brits keen to move across the world to a stunning coastal city with the promise of three times their salaries in the UK have been warned by a travel expert.

Aussie recruiters are looking for 31,000 UK nationals to ease the employment crisis in Perth.

Already 60,000 British people have asked for more information with a look to move – and officials are still set to search in Ireland too.

READ MORE: More than 50,000 Brits sign up to live in coastal city where pay is three times better

Delegates from the Western Australian Government have since arrived in the UK to tempt Brits with better weather and higher pay.

Nurses, teachers, police, miners, doctors, plumbers and electricians are just some of the roles being sought out – and some specialisms will attract three times their current salary here in Blighty.

At the Daily Star, we consulted a financial expert to find out what a move down under could mean for those who emigrate, who warned it may not be as good as it seems.

Jack Mitchell, Head of Travel Money at FairFX told us: “Australia has long been a popular destination for Britons to relocate, but with the UK cost-of-living crisis in full swing, the prospect of moving down under for better weather and higher wages could be an easy sell.

“In the last month alone, more people based in the UK have searched online for advice about moving to Australia than anywhere else in the world, but there are important considerations to bear in mind before you commit to moving abroad.”

These include whether the higher wages are value for money, the cost of property in Australia and any residual tax requirements you may have to pay.

The travel money pro said: “The prospect of higher wages can be tempting but it’s important to consider the value for money in terms of property and rental prices, utilities, and domestic goods.

“Although wages down under tend to be higher, Perth can be an expensive place to live, with a pint of domestic beer costing the equivalent of £6.18 (compared to £4 in the UK).

“On the flip side, although rent in Australia is approximately 32% higher than in United Kingdom, rental prices in Perth are on average 39% lower than in London.”

He continued: “Whether buying or renting a property in Australia, you’ll need to transfer money from the UK to pay for the property cost.

"If you leave your transfer to the last minute, you’ll be forced to use the exchange rate on the day and you could end up paying more than you need to.

“If you know you need to make a future money transfer to cover a mortgage or rental payment, you don’t have to simply hope for a good rate on the day.

"The FairFX international payments service allows you to hold rates for up to twelve months in advance of payment.”

Plus, shockingly, you could be taxed by more than one country when you start working abroad, the finance pro added.

He said: “Sorting out your tax bill might not be the most exciting part of the checklist but it is a must.

"Depending on your residency status you might still be eligible to pay tax in the UK, and if you’re being taxed in more than one country you may be eligible for tax relief.

“Either way, you’ll need to notify HMRC that you are planning to leave and notify the tax authority in Australia.

"Make sure you understand Australian tax rules as an expat.

"Seek advice from a local financial adviser who can help ensure you don't fall foul of local laws.”

Any of the lucky Brits who do head to Aus – or those who choose to fulfil one of New Zealand’s 114 work-to-residence roles – may want to follow a word of Jack’s advice…

He told the Travel team: “If you have ongoing expenses and direct debits in the UK (or you plan to return) you may want to keep a UK bank account for any Sterling transactions back at home. Contact your bank for assistance with access from abroad.

“For a permanent move, you’ll most certainly need to open a bank account in Australia.

"For starters, this will prevent you having to do a currency conversion every time you buy a pint of milk or a latte!"

He continued: “Contact your chosen bank before you touchdown. It's likely that you'll need to register in person but at least you'll be able to book an appointment and find out what documents you'll need to present.

“For the first few days without a local bank account, consider using a Currency Card to ensure a competitive exchange rate when converting from pounds to the Australian dollar.

"For a temporary relocation, this may even be the best way to manage day-to-day spending rather than facing the rigmarole of setting up a new bank account abroad.”

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