taking money into Australia
#1
Just Joined
Thread Starter
Joined: Jan 2003
Posts: 12
taking money into Australia
what is the best way to take money into Australia to avoid paying as much tax as possible?
i am planning to take a largeish amount into Aust at the end of the year when i imigrate
i am planning to take a largeish amount into Aust at the end of the year when i imigrate
#2
Forum Regular
Joined: Sep 2002
Location: Ireland
Posts: 77
I don't think there's any tax on capital imported into Australia, so you can bring it in any way you like. Once you save or invest it and it starts to generate interest or investment return, that will be taxable as income. But this is true whether you save or invest it in or outside Australia, so that's not a reason for keeping it offshore. (In fact, the tax may be slightly heavier if you invest offshore, so take good advice before doing that).