Borrowing money from relatives
 

Hi,

We're thinking to borrow money from relatives back home to get a deposit for a mortgage. Is there any time limit (3 months?) for sending money to us in Australia?

Also, is there any time limit for transferring our own money to Australia? I thought that I had read something somewhere about a 3 month tax-free limit for bringing money into Australia.

Thanks in advance.

Any advice?

Re: Borrowing money from relatives
 

You can borrow money from relatives at any time.

You can transfer your own money into Australia at any time. The tax authorities would only be interested if you made capital gains significantly after you moved to Australia.

Hi,

Thanks very much for the advice.