sending money over! any tax/customs implications?
#1
sending money over! any tax/customs implications?
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will be sending through our bank account approx £25000 to relative to go in her account,so we can transfer it from hers to our new account we will set up once in australia.is there any problems with tax or is it illegal to do this and will i have to declare this with customs once entering australia?
will be sending through our bank account approx £25000 to relative to go in her account,so we can transfer it from hers to our new account we will set up once in australia.is there any problems with tax or is it illegal to do this and will i have to declare this with customs once entering australia?
#2
Re: sending money over! any tax/customs implications?
dont send it there,
i will give you my details, you may let me look after it for you.
i will give you my details, you may let me look after it for you.
Originally Posted by a.dunn50
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will be sending through our bank account approx £25000 to relative to go in her account,so we can transfer it from hers to our new account we will set up once in australia.is there any problems with tax or is it illegal to do this and will i have to declare this with customs once entering australia?
will be sending through our bank account approx £25000 to relative to go in her account,so we can transfer it from hers to our new account we will set up once in australia.is there any problems with tax or is it illegal to do this and will i have to declare this with customs once entering australia?
#3
Re: sending money over! any tax/customs implications?
Originally Posted by tucs
dont send it there,
i will give you my details, you may let me look after it for you.
i will give you my details, you may let me look after it for you.
very good lol
#4
Re: sending money over! any tax/customs implications?
dont know an ecact answer to your question but i am sure someone will help us.
i plan to do the same as what you are doing.
Only issue i see is if the person declares what they have in the bank (in ozz), they might be liable to capital gains. But why would they want to declare it.
In Ireland i am not liable to taxation on the sale of my house.
Someone said to me that when you are changing a large amount of cash you can get a better deal than the local bank by going to a broker. Did you hear that?
i plan to do the same as what you are doing.
Only issue i see is if the person declares what they have in the bank (in ozz), they might be liable to capital gains. But why would they want to declare it.
In Ireland i am not liable to taxation on the sale of my house.
Someone said to me that when you are changing a large amount of cash you can get a better deal than the local bank by going to a broker. Did you hear that?
Originally Posted by a.dunn50
very good lol
#5
Re: sending money over! any tax/customs implications?
Originally Posted by tucs
dont know an ecact answer to your question but i am sure someone will help us.
i plan to do the same as what you are doing.
Only issue i see is if the person declares what they have in the bank (in ozz), they might be liable to capital gains. But why would they want to declare it.
In Ireland i am not liable to taxation on the sale of my house.
Someone said to me that when you are changing a large amount of cash you can get a better deal than the local bank by going to a broker. Did you hear that?
i plan to do the same as what you are doing.
Only issue i see is if the person declares what they have in the bank (in ozz), they might be liable to capital gains. But why would they want to declare it.
In Ireland i am not liable to taxation on the sale of my house.
Someone said to me that when you are changing a large amount of cash you can get a better deal than the local bank by going to a broker. Did you hear that?
#6
Re: sending money over! any tax/customs implications?
yeah see what you mean.
over here the banks are a rip off but i went down to see how much they charged to actually send the money over (sending over quite a bit as no mortgage and another property abroad) they will charge €25.
pleasantly suprised.
over here the banks are a rip off but i went down to see how much they charged to actually send the money over (sending over quite a bit as no mortgage and another property abroad) they will charge €25.
pleasantly suprised.
Originally Posted by a.dunn50
yes mate heard and read about brokers,not too sure about using 1 as its all well have in the world the money and maybe doing it through bank with family will be more secure for us i think