Telegraphic transfer limits
 

I remember there being a threshold for TTs above which the ATO take an interest. Does anyone know what that is?

Re: Telegraphic transfer limits
 

I think it's $10,000

Re: Telegraphic transfer limits
 

That sounds familiar. I thought maybe $15,000 but better safe than sorry.

Re: Telegraphic transfer limits
 

The only interest the ATO will have on transferring funds electronically is any interest you will earn as a result and which you will have to declare in your next tax return.

The 10K limit only applies to carrying cash into Australia which would need to be declared.

Re: Telegraphic transfer limits
 

So you're saying I can transfer out of Australia any amount without attracting any more attention than a smaller amount?

Re: Telegraphic transfer limits
 

you didn't make your original post clear. I was referring to transferring into Australia, not out!!

Re: Telegraphic transfer limits
 

OK, so I did what the OP should have done and Googled it!

Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government agency, established in 1989 under the Financial Transaction Reports Act 1988[1] and continued in existence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The agency is Australia's anti-money laundering and counter-terrorism financing regulator and a specialist financial intelligence unit. AUSTRAC's head office is in Sydney.

Certain classes of designated services must be reported to AUSTRAC, in particular bank cash transactions (i.e. notes and coins) of $10,000 or more. AUSTRAC passes information on to other government agencies to help them act against tax evasion, organised crime, money laundering, and welfare fraud.

http://en.wikipedia.org/wiki/Australian_Transaction_Reports_and_Analysis_Centre

Re: Telegraphic transfer limits
 

Well I didn't want my ip recorded did I.

Re: Telegraphic transfer limits
 

OK!;) Hey if you're that worried about it have a look at bitcoin..