julesharp Posted March 11, 2012 Share Posted March 11, 2012 HI , IN EARLY STAGES OF 176 VISA. HOPEFULLY WILL GET OUR HOUSE SOLD BUT CURIOUS TO KNOW IF THIS IS SUBJECT TO ANY TAX WHEN TRANSFERRING MONEY OVER TO BUY A PROPERTY OVER IN OZ. ??:confused: Link to comment Share on other sites More sharing options...
Guest GeorgeD Posted March 11, 2012 Share Posted March 11, 2012 You pay tax when you earn money as an Australian tax payer, not on moving it around the world. There is no limit to the amount of money you can bring in our out of Australia without any tax payable. You need to declare anything over $10,000 but it doesn't cost you to bring it into the country. Link to comment Share on other sites More sharing options...
julesharp Posted March 12, 2012 Author Share Posted March 12, 2012 many thanks Link to comment Share on other sites More sharing options...
thombatt Posted March 12, 2012 Share Posted March 12, 2012 there are no taxes on the transfer of capital. There may well be Capital Gains tax on the sale of the property depending on the circumstances. These taxes would be payable whether you moved the funds to Australia or not You are only required to declare CASH (i.e. notes and coins) if you bring in in excess of $10 000. Link to comment Share on other sites More sharing options...
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