Transfering money back to £
Jun 12th 2006, 5:30 am
#1
Forum Regular
Thread Starter
Joined: Apr 2005
Location: Butler, Perth
Posts: 117
Transfering money back to £
Hi All
I was wondering if anybody had transfered money over to a Australian bank account and then for whatever reason had to transfer it back.
How do you go on if lets say you have used a company like Hifix, Ozforex etc and the rates changed either way. Do you get an form of tax etc if the money is in your favour.
Thanks Daz
I was wondering if anybody had transfered money over to a Australian bank account and then for whatever reason had to transfer it back.
How do you go on if lets say you have used a company like Hifix, Ozforex etc and the rates changed either way. Do you get an form of tax etc if the money is in your favour.
Thanks Daz
Jun 13th 2006, 5:30 am
#2
Forum Regular
Thread Starter
Joined: Apr 2005
Location: Butler, Perth
Posts: 117
Re: Transfering money back to £
Anyone 
Jun 13th 2006, 5:46 am
#3
Worongary
Joined: Sep 2005
Location: GC hinterland
Posts: 10,288
Re: Transfering money back to £
Originally Posted by Daz,Tam & Jake
Hi All
I was wondering if anybody had transfered money over to a Australian bank account and then for whatever reason had to transfer it back.
How do you go on if lets say you have used a company like Hifix, Ozforex etc and the rates changed either way. Do you get an form of tax etc if the money is in your favour.
Thanks Daz
I was wondering if anybody had transfered money over to a Australian bank account and then for whatever reason had to transfer it back.
How do you go on if lets say you have used a company like Hifix, Ozforex etc and the rates changed either way. Do you get an form of tax etc if the money is in your favour.
Thanks Daz
i suppose you would have to inform the tax man via your tax return
i would expect that it would come under unearned profits and be taxed at 40%
email ozforex and ask the question whether or not they have to inform the inland revenue of your dealings
