tax issues
May 15th 2005, 7:01 pm
#1
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tax issues
eh up im looking for advice regarding transfering monies in to oz . do u hav any capital gains to pay on large amounts of cash deposited in a oz bank account?which is the best way to transfer cash.also what about uk pensions can they b transfered.any help or advice or recomendations will go down a treat thanks,markmsharky nearly in oz
May 15th 2005, 7:09 pm
#2
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Re: tax issues
sorry I cant help, but good question I would love to know the answer to!!
May 15th 2005, 7:18 pm
#3
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Re: tax issues
Originally Posted by markmsharky
eh up im looking for advice regarding transfering monies in to oz . do u hav any capital gains to pay on large amounts of cash deposited in a oz bank account?which is the best way to transfer cash.also what about uk pensions can they b transfered.any help or advice or recomendations will go down a treat thanks,markmsharky nearly in oz
It's impossible for such general questions to be answered in any meaningful way.
There is no capital transfer tax, however capital gains or losses after you become Australian tax resident may be liable to capital gains tax in Australia.
Income on overseas bank accounts is taxable in Australia (when you are Australia tax resident) whether it's brought into Australia or not.
You can visit http://www.ato.gov.au but your questions suggest that you really need professional assistance.
Jeremy
