stu_$ Posted January 26, 2005 Share Posted January 26, 2005 i will try to cut a long story short i am hopefully be heading back to LOS soon, to be married and etc hoping to build a house up north. i am wondering what happens if i walk thru airport with a bag of $$$ i was extremely lucky that my grandfather gave me something very valuable when he passed on , and against all advice im considering selling it im sure i could sell it for cash easily ,but what happens at the airport ? will AUS customs want to tax my money & will THAI want a slice ? how to transfer money international i really would like to avoid losing a percentage of my inheritance to the govt ... any tips thanks in advance stu Link to comment Share on other sites More sharing options...
tuky Posted January 26, 2005 Share Posted January 26, 2005 To get the ball rolling Stu, you best bet might be to open an offshore account with perhaps HSBC Guernsey (tax free). But I am certainly no expert on this subject but it might be a start to look into. I will leave this thread here in general topics for a short while then move it on into the finance forum where the punters are a more knowledgable bunch. Good luck. Link to comment Share on other sites More sharing options...
LaoPo Posted January 26, 2005 Share Posted January 26, 2005 If you want to be clever...don't bring so much cash into TH. Like the poster before said: put it offshore on the way to TH and ask for a creditcard to take cash in TH if you need it. LaoPo Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted January 26, 2005 Share Posted January 26, 2005 Taking $AUD10,000 or more out of Australia in cash is illegal. You can take as much as you like into Thailand, but to be able to take it out again, $US10,000 or more must be declared to Thai Customs on arrival. Link to comment Share on other sites More sharing options...
RooBoy Posted January 26, 2005 Share Posted January 26, 2005 How much are we talking about here?? Why dont you open an account with a large bank in Bangkok, you could use HSBC or City bank even, then just transfer the money from your OZ bank account when you need it. You wont get taxed if you send a couple hundred thou from OZ to BKK, I know someone who did it no problems, he used Bangkok Bank. Link to comment Share on other sites More sharing options...
smacko Posted January 26, 2005 Share Posted January 26, 2005 does anyone have links/info on off shore banking? thanks Link to comment Share on other sites More sharing options...
edd Posted January 27, 2005 Share Posted January 27, 2005 does anyone have links/info on off shore Try this link---- copy & paste http://www.moneysupermarket.com/Savings/De...t.asp?gsl=1&p=0 All the info you need Edd Link to comment Share on other sites More sharing options...
bmanly Posted January 27, 2005 Share Posted January 27, 2005 Stu what Dr. PP has said is correct. Why don't you take the max 10K AUD in to Thailand, that's a nice 300K Baht start for your home. With the rest put it in a high interest bearing account like "Citibank Online Manager Account" in OZ, it pays 5.4% interest. When you get back to Thailand open a Bangkok Bank Bank account. Once you have done that you can transfer money into that from your Citibank Account online. I use Westpac for transferring my money to LOS. I can tranfer 5K AUD at a time for $20 which is cheap. You can do this everyday if you want as long as you set up the account to the maximum amout of 5K per day limits. I would not put all my money into the Thai Account because the interest rate is very lousy ie: .75% verses 5.4%. Plus the above Citibank account pays the interest every month, it's like a nice income coming in Month after Month. I do not think the item your Grandfather left you may be taxable but then again you have not told us what it is. There are many things that are not taxable. Search the ATO site, there are thousands of links to all kinds of tax questions. I found this link for a start, you can look at that and search for more info if you need it. Here it is:http://www.ato.gov.au/individuals/content....ge=6#P541_52069 Good luck Link to comment Share on other sites More sharing options...
LaoPo Posted January 27, 2005 Share Posted January 27, 2005 i was extremely lucky that my grandfather gave me something very valuablewhen he passed on , and against all advice im considering selling it <{POST_SNAPBACK}> Don't tell me it was Ayers' Rock...was it? LaoPo Link to comment Share on other sites More sharing options...
Kringle Posted January 27, 2005 Share Posted January 27, 2005 This is either a troll or just a fool and a fool and his money are soon parted. Link to comment Share on other sites More sharing options...
pedro01 Posted January 27, 2005 Share Posted January 27, 2005 This is either a troll or just a fool and a fool and his money are soon parted. <{POST_SNAPBACK}> Tell me your flight number & name - I'll arrange for someone to meet you & ensure that you have no worries about bringing the cash through customs. Dumb - walking into a developing country with a bag of cash Dumber - advertising that fact in the internet beforehand Hope you are just trolling Link to comment Share on other sites More sharing options...
astral Posted January 27, 2005 Share Posted January 27, 2005 Taking $AUD10,000 or more out of Australia in cash is illegal. You can take as much as you like into Thailand, but to be able to take it out again, $US10,000 or more must be declared to Thai Customs on arrival. <{POST_SNAPBACK}> Do NOT bring cash. You will raise all sorts of alarm bells about there is came from - Money Laundering Laws. When you get here open an account, and have your bank back home send what you need, and no more. Interest rates here are pretty poor. Link to comment Share on other sites More sharing options...
TizMe Posted January 27, 2005 Share Posted January 27, 2005 I recently transferred AUD$50,000 from my St George Bank account to my Siam Commercial Bank account. Bank fee was AUD$30. No taxes, no questions asked. Link to comment Share on other sites More sharing options...
cdnvic Posted January 27, 2005 Share Posted January 27, 2005 Stu, I'd really like to help you so if you send me a private message I'll tell you how to deposit this into my bank account, and when you get through customs I'll hand you the money in cash (less bank fees and my cab fare). Don't worry about trusting me as anyone here will attest to my honesty. cv Link to comment Share on other sites More sharing options...
tuky Posted January 27, 2005 Share Posted January 27, 2005 Taking $AUD10,000 or more out of Australia in cash is illegal. You can take as much as you like into Thailand, but to be able to take it out again, $US10,000 or more must be declared to Thai Customs on arrival. <{POST_SNAPBACK}> Do NOT bring cash. You will raise all sorts of alarm bells about there is came from - Money Laundering Laws. When you get here open an account, and have your bank back home send what you need, and no more. Interest rates here are pretty poor. <{POST_SNAPBACK}> especially as a foreigner, it is lower than the Thai nationals get which is already low. Link to comment Share on other sites More sharing options...
stu_$ Posted January 27, 2005 Author Share Posted January 27, 2005 wow, thanks guys... i shall be doing a lot more homework now i think and pedro, no i'm not trolling im quite serious.. thanks to everyone you are terribly useful ...as always stu_$ Link to comment Share on other sites More sharing options...
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