What if you bring more than AUD 10,000 ??
Hi,
Can anybody guide me the process to follow when you bring more than AUD 10,000 ? I knw that we need to declare it at the airport. What is the next step happen when you declare it ? Do we need to pay any tax if it is more than 10,000 ? Do we have to pay it at the airport itself or we have to do it later ? Will anybody advice me ? Thanx. Muditha. |
Re: What if you bring more than AUD 10,000 ??
In cash? Can you transfer it instead?
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Re: What if you bring more than AUD 10,000 ??
Originally Posted by muditha
(Post 10277906)
Hi,
Can anybody guide me the process to follow when you bring more than AUD 10,000 ? I knw that we need to declare it at the airport. What is the next step happen when you declare it ? Do we need to pay any tax if it is more than 10,000 ? Do we have to pay it at the airport itself or we have to do it later ? Will anybody advice me ? Thanx. Muditha. |
Re: What if you bring more than AUD 10,000 ??
Originally Posted by muditha
(Post 10277906)
Hi,
Can anybody guide me the process to follow when you bring more than AUD 10,000 ? I knw that we need to declare it at the airport. What is the next step happen when you declare it ? Do we need to pay any tax if it is more than 10,000 ? Do we have to pay it at the airport itself or we have to do it later ? Will anybody advice me ? Thanx. Muditha. It's a money laundering issue - not a tax issue. Not exactly sure travel insurance will want to cover that should it fall out your wallet. |
Re: What if you bring more than AUD 10,000 ??
if u bring more than 10k just declare and explain why you have so
much on u. |
Re: What if you bring more than AUD 10,000 ??
Originally Posted by muditha
(Post 10277906)
Hi,
Can anybody guide me the process to follow when you bring more than AUD 10,000 ? I knw that we need to declare it at the airport. What is the next step happen when you declare it ? Do we need to pay any tax if it is more than 10,000 ? Do we have to pay it at the airport itself or we have to do it later ? Will anybody advice me ? Thanx. Muditha. Seriously, you must have bank accounts here now, a transfer would be safer and easier. |
Re: What if you bring more than AUD 10,000 ??
Thanks. I thought we have to pay some tax if we bring money more than 10k and somebody told me that bank will anyway inform ATO when we deposit money excess of 10k at one transaction. May be i got a wrong information.
Thanks anyway. Regards, Muditha |
Re: What if you bring more than AUD 10,000 ??
Do two smaller transfers may be?
|
Re: What if you bring more than AUD 10,000 ??
Originally Posted by muditha
(Post 10278571)
Thanks. I thought we have to pay some tax if we bring money more than 10k and somebody told me that bank will anyway inform ATO when we deposit money excess of 10k at one transaction. May be i got a wrong information.
Thanks anyway. Regards, Muditha |
Re: What if you bring more than AUD 10,000 ??
Originally Posted by muditha
(Post 10277906)
Hi,
Can anybody guide me the process to follow when you bring more than AUD 10,000 ? I knw that we need to declare it at the airport. What is the next step happen when you declare it ? Do we need to pay any tax if it is more than 10,000 ? Do we have to pay it at the airport itself or we have to do it later ? Will anybody advice me ? Thanx. Muditha. |
Re: What if you bring more than AUD 10,000 ??
and the most simple acceptable explanation to customs is, you are migrating!
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Re: What if you bring more than AUD 10,000 ??
Thanx.
|
Re: What if you bring more than AUD 10,000 ??
There is no more tax payable just because you bring in large amounts of cash - in fact, we quite like it if you do so you can spend it here!
Carrying that much cash is not so unusual in plenty of places. Lots of tourists bring that much in cash. |
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