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Tax laws... bringing money to aus

Tax laws... bringing money to aus

Old Jan 6th 2018, 3:57 am
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Default Tax laws... bringing money to aus

Hi guys. Sorry if this is a silly question. Does anyone know what the tax laws are in regards to bringing a large sum of money over to aus? I have a couple of hundred K to start setting me up over there so wanted to know whats taxed. My tired little brain can't filter the information at the moment and I'm reading conflicting information
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Old Jan 6th 2018, 7:08 am
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Default Re: Tax laws... bringing money to aus

If its after tax income there will not be any tax at all in Australia.

Large transfers sometimes attract the attention of the tax office so I would make sure you have documents demonstrating how the money was earned, but I doubt they would bother in a case like this.
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Old Jan 7th 2018, 11:44 am
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Default Re: Tax laws... bringing money to aus

Originally Posted by anzen12 View Post
If its after tax income there will not be any tax at all in Australia.

Large transfers sometimes attract the attention of the tax office so I would make sure you have documents demonstrating how the money was earned, but I doubt they would bother in a case like this.
Thank you for your kind reply
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Old Jan 8th 2018, 6:14 am
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Default Re: Tax laws... bringing money to aus

Originally Posted by Clacfart View Post
Hi guys. Sorry if this is a silly question. Does anyone know what the tax laws are in regards to bringing a large sum of money over to aus? I have a couple of hundred K to start setting me up over there so wanted to know whats taxed. My tired little brain can't filter the information at the moment and I'm reading conflicting information
You pay tax on money you earn, not on what you already own.
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