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Discussion Starter · #1 ·
I'm moving to Australia on a visa 189. I wanna know if I have to pay a tax on the (cash) money I take with me.

How about the part of my money that my brother will transfer to my bank account in a few months from now?

Thank you
 

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Any interest earned on the money in your Australian bank account will be taxed depending how much you earn in the financial year.

For a person who earns $25,000 in a financial year and over $1 in interest, there will be income tax payable on the interest earned.
 

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Discussion Starter · #7 ·
Any interest earned on the money in your Australian bank account will be taxed depending how much you earn in the financial year.

For a person who earns $25,000 in a financial year and over $1 in interest, there will be income tax payable on the interest earned.
I got it. Not the original money you'd initially bring with you to Australia, right?
 

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Correct.

Things change from now on as you will be a Australian Resident for tax purposes - and if you now earn income in Iran or other countries, that income might be subject to Australian Income Tax.
 

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I should inform the OP I have a current discrepancy with the Australian Tax Office of $781,602 so I might not be the best person to get tax advice from!

But I know Mish is on top of the tax rules or laws but she has not told me how I can cancel my subscription yet!
 

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And some of you should be glad you're not from the US - one of very, very few countries who tax their citizens living abroad! Hubby and I have to file two tax returns every year. One in Aus, and one to Uncle Sam. You only actually PAY tax if you earn over a certain amount (and they take the income tax you pay to Australia every year into account) but ugh, the cost of getting a tax professional to file every year (because the returns are ridiculous for US citizens living abroad) is a pain in the Down Under. Hahaha.
 

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Discussion Starter · #13 ·
And some of you should be glad you're not from the US - one of very, very few countries who tax their citizens living abroad! Hubby and I have to file two tax returns every year. One in Aus, and one to Uncle Sam. You only actually PAY tax if you earn over a certain amount (and they take the income tax you pay to Australia every year into account) but ugh, the cost of getting a tax professional to file every year (because the returns are ridiculous for US citizens living abroad) is a pain in the Down Under. Hahaha.
Excuse my French, where's "down under" exactly? LOL
 
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