chalkyhill Posted April 20, 2011 Share Posted April 20, 2011 Hey all, With the exchange rate where it is - I am thinking of transferring a bit of money back home to pay off some of my mortgage (in order to get consent to lease from the bank) However will I be taxed on this transfer? Link to comment Share on other sites More sharing options...
Guest roberts Posted April 21, 2011 Share Posted April 21, 2011 I'm hoping to do the same thing. I hope not! Link to comment Share on other sites More sharing options...
janieco Posted April 21, 2011 Share Posted April 21, 2011 Hi there, i had the same concern and asked my accountant about it. She told me that i would only pay tax on money that earnt interest. I asked if i transfered my oz dollars to sterling and then exchanged it back in to more oz dollars than i had started off with , would i be taxed and the answer was NO. only if i earnt interest some where along the way. So i think you will be fine. I have just exchanged oz dollars in to sterling with the intention of exchanging it back in about 12 months, it is held in a non interest bearing account so i will be fine :biggrin: hope this helps. Link to comment Share on other sites More sharing options...
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