FrankB

Need help on customs regulation.
We will travel to Brisbane in two weeks time on a 457 Visa. We are planning to bring approx. 15000 AUS$ in cash with us. I have heart that everything beyound 5kAUS$ needs to be declared at Customs. Does anybody know if they put a TAX and something like that on the amount over 5k?

Appreciate your help!

Frank

Nu-Shooz

Not sure, but as long as you declare the reasons why you have such a large amount on you, you will be ok.

Red_V_Roger

Dont know why you would want to bring that sort of cash - much easier to do a transfer (and safer).

You need to declare cash and other things like bonds, etc above AUD $10K...but its only to try to help stop money laundering, there is no tax.

scrubbedexpat001

Of course, if there are 2 of you travelling and you split the cash equally (AU$7500 each) then you dont need to worry at all or even declare it.

The "Rules" are that you must declare anything over $10K or above, however this limit is 'per person' not 'per group' or 'per couple' as you each have to fill out your own landing card where you make the declaration that you are not bringing in more that AU$10k.

This is what we did back in 2001 when we had over AU$12k of travellers cheques and about $3k in cash as we left it a little late to close bank accounts before coming over (knew better this time and did the money transfer thing). We had it split between the 2 of us for security reasons (eggs in one basket so to speak) and I queried it with customs as we went through (Sydney) and they said that the limit was per person.

Geelong Gent

Over $10K you must declare it and fill in a simple form to the origins of the funds. No additional tax paid. Its basically declare if your honest if not and they find out they will rightly suspect the funds are from illgotten gains.