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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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Discussion Starter · #3 ·
No tax on the money, be sure to declare on arrival if applicable (over $10K).
Thank you very much. What about the money that'll be transferred to my bank account a few months into my arrival? My brother will send it from an exchange office to my Australian bank account.
 

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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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Discussion Starter · #9 ·
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.
Thank you for your great guide
 

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I got it. Not the original money you'd initially bring with you to Australia, right?
Only if you earn interest on it but you are not taxed anything for bringing the actual money in.

We have savings account where you can earn interest each month. This interest is classed as income.
 

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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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