transfering money
Sep 25th 2005, 2:03 pm
#1
Forum Regular
Thread Starter
Joined: Apr 2005
Posts: 96
transfering money
does anyone know how long u have to transfer money .. i have been told that u only have a certain amt of time to transfer ur funds .. ie if we leave some here and then transfer it in say 6-12 mths time we will get taxed on it .. where as if we take it with us at the begining we dont get taxed..
can anyone help !!
can anyone help !!
Sep 25th 2005, 4:52 pm
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: transfering money
Originally Posted by sara-anthony3108
does anyone know how long u have to transfer money .. i have been told that u only have a certain amt of time to transfer ur funds .. ie if we leave some here and then transfer it in say 6-12 mths time we will get taxed on it .. where as if we take it with us at the begining we dont get taxed..
can anyone help !!
can anyone help !!
What tax are you talking about? There is no capital transfer tax.
You might have a capital gains tax issue (on gains arising after you become Australian tax resident) but that's another question. Visit http://www.ato.gov.au
The only "6 month rule" that may affect you applies to some pension schemes (but not others).
Jeremy
Sep 25th 2005, 7:50 pm
#3
Forum Regular
Thread Starter
Joined: Apr 2005
Posts: 96
Re: transfering money
thanks I will check out that web site
Originally Posted by JAJ
What tax are you talking about? There is no capital transfer tax.
You might have a capital gains tax issue (on gains arising after you become Australian tax resident) but that's another question. Visit http://www.ato.gov.au
The only "6 month rule" that may affect you applies to some pension schemes (but not others).
Jeremy
You might have a capital gains tax issue (on gains arising after you become Australian tax resident) but that's another question. Visit http://www.ato.gov.au
The only "6 month rule" that may affect you applies to some pension schemes (but not others).
Jeremy
