Kiwipaul

Thats my understanding as well, but so what. There must be thousands of these transactions happening every day and unless your name is flagged for some reason it will just go through. I quite often move more than $10,000 into Oz and no one has ever asked me where it is from.

On the Oz annual tax return I just ans yes to do I have more than $50,000 abroard and I declare a $20,000 gross income from abroard but pay no tax on it (because it's rental income from a property and the expenses are greater than the income but they don't ask about the expenses) and they have never querried it.

The Oz taxman asks the min regarding your offshore investments, the NZ gov wanted to know far more about my foreign investments than they do in Oz. Don't know what the UK gov asks as never had any foreign investment whilst in UK.