SKIPPI79

Does anyone know if you have to pay any kind of tax or fees on money you bring to oz with you?
Our bank already charges the transfer fees but do you pay anyhting in Oz?

Wendy

No, you don't pay tax on your money when you transfer it. You only pay tax on any interest it earns throughout the year (the Aus banks don't tax it like the UK ones do, so you have to declare it in your tax return)

SKIPPI79

so if i spend most of it on abusiness and house deposit, it won't cost me a thing?
Great just having a look at how much we can spend on a business and a house deposit.

Thanks a mil

Olias

your bank in Oz may charge a fee for recieving the money, but it should only be a few dollars

Wendy

Which banks charge that

I know the ANZ don't

LauraC

Commonwealth didn't charge me a few years back either, though that could have changed, I haven't transfered any money into it for a while.

Olias

It's just what I've read whilst doing research for my move.

If it's not the case then great! a few less dollars to shell out!

Wendy

It actually wouldn't suprise me

Stick with one of the bigger banks like ANZ or Wesztpac