I've been out of the country for a while now and I don't have a bank account in Australia.

I know I need to declare anything more than $10k when I fly into Australia but what happens if I fly in with say $100k and declare it?

Thanks in advance.

You are correct about the $10k limit, and why would you risk carrying $100,000? Can't you open a bank account online? Like with an international bank. HSBC comes to mind... Good luck! I'm sure there's an interesting story behind your question!

In this day and age you better have plenty of proof where it came from ie proper paperwork

Theres no limit on the amount you can carry but you have to declare it and show its came from legitimate means

The ATO will be advised you have it also.

Just open up an international bank account. Why risk carrying around large sums of money. Its just asking for trouble.

why not bring it as a bank draft instead of cash? may take a few days to convert to cash once in Aus, but shouldnt be more than a week?

Per the imigration at the airport; for an individual not a business, Thai currency under $20,000 US do not need to declare. Can not take anymore even if dclared.

Other financual instruments for individual do not need to be declared no matter what amount.

On the arrival side that is another matter.

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

Per the imigration at the airport; for an individual not a business, Thai currency under $20,000 US do not need to declare. Can not take anymore even if dclared.

Other financual instruments for individual do not need to be declared no matter what amount.

On the arrival side that is another matter.

I don't quite understand.

The OP was talking about Australia.

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

Of course its simple and straightforward, but carrying around massive amounts of money is stupid.

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

Of course its simple and straightforward, but carrying around massive amounts of money is stupid.

True,

But I was answering the OP's question.

Regards

Will

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Thanks guys,

I usually withdraw cash from my bank and then convert it into $AU here in Bangkok, that way I get a good exchange rate. The best way is to TT it back but like I said I don't have an Aussie bank account.

So the ATO would get notice?

Does that mean I would have to decare it as income and pay tax?

Will

Thanks guys,

I usually withdraw cash from my bank and then convert it into $AU here in Bangkok, that way I get a good exchange rate. The best way is to TT it back but like I said I don't have an Aussie bank account.

So the ATO would get notice?

Does that mean I would have to decare it as income and pay tax?

Thanks guys,

I usually withdraw cash from my bank and then convert it into $AU here in Bangkok, that way I get a good exchange rate. The best way is to TT it back but like I said I don't have an Aussie bank account.

So the ATO would get notice?

Does that mean I would have to decare it as income and pay tax?

No,

Generally the ATO won't be informed, unless you're a

person of interest.

You don't have to declare it as income or pay tax.

Regards

Will

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

What great advice

So what you are saying is anyone can carry any amount fo money in cash arrive in OZ and not have to account for $100,000 in cash in there luggage HMmmmmmm sounds like BS to me

Its not your money, do what you want with your own money but give people the worst case scenario, based on your advice if he travels and has legit money but does not take proof he can get into all sorts of incoviniences.

Take proof mate just in case you need it

http://www.customs.g...te/page4443.asp[/url]' ]

Currency

There is no limit to the amount of currency you can bring in or out of Australia. However' date=' you must declare amounts of A$10,000 or more in Australian currency or foreign equivalent. If asked by Customs you must also fill in a Bearer Negotiable Instruments (BNI) form if you're carrying promissory notes, travellers cheques, personal cheques, money orders or postal orders.[/quote']

Edited June 30, 201016 yr by Daewoo

The OP was talking about Australia.

Sorry, missed the part about Australian !

Thanks guys,

I usually withdraw cash from my bank and then convert it into $AU here in Bangkok, that way I get a good exchange rate. The best way is to TT it back but like I said I don't have an Aussie bank account.

So the ATO would get notice?

Does that mean I would have to decare it as income and pay tax?

I've got an Aussie account you could use, but then again, I might be a Nigerian Aussie who needs you to help with that $2Billion I need released from the most recent demise of General Ali, my friends brothers step uncle! who left to me this money cause I was so nice to him!! 555

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

What great advice

So what you are saying is anyone can carry any amount fo money in cash arrive in OZ and not have to account for $100,000 in cash in there luggage HMmmmmmm sounds like BS to me

Its not your money, do what you want with your own money but give people the worst case scenario, based on your advice if he travels and has legit money but does not take proof he can get into all sorts of incoviniences.

Take proof mate just in case you need it

Saw it on the box recently, Australian Customs guys seized from a Chinese student $22,000 Australian on entering because she did not declare it. Went to court where she proved the source $1000 fine and the balance returned, 2 months later.

Edited June 30, 201016 yr by jayjayjayjay

Im pretty sure if you wore it (gold) you wouldn't have to declare it:)

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

What great advice

So what you are saying is anyone can carry any amount fo money in cash arrive in OZ and not have to account for $100,000 in cash in there luggage HMmmmmmm sounds like BS to me

Its not your money, do what you want with your own money but give people the worst case scenario, based on your advice if he travels and has legit money but does not take proof he can get into all sorts of incoviniences.

Take proof mate just in case you need it

Saw it on the box recently, Australian Customs guys seized from a Chinese student $22,000 Australian on entering because she did not declare it. Went to court where she proved the source $1000 fine and the balance returned, 2 months later.

Yes,

And it wasn't declared.

That's a totally different scenerio.

If you don't declare it, the AFP are usually

called in.

Regards

Will

Don't believe everything you read on here.

It's a pretty straight forward process.

You have to declare it on the passenger

card and then on arrival will be asked to

fill out a currency declaration form.

That's about it really. Don't listen to

people saying you have to account for

it and it get's sent to the ATO.

Hope this helps.

Regards

Will

What great advice

So what you are saying is anyone can carry any amount fo money in cash arrive in OZ and not have to account for $100,000 in cash in there luggage HMmmmmmm sounds like BS to me

Its not your money, do what you want with your own money but give people the worst case scenario, based on your advice if he travels and has legit money but does not take proof he can get into all sorts of incoviniences.

Take proof mate just in case you need it

Unlike yours, my advice is factual.

The OP asked the procedure and I told him.

There's no "worst or best" case scenerio.

There's a procedure (another poster highlighted it

from ACS) that's meant to be followed.

If you think it's BS, what's your information based on?

Regards

Will

Edited June 30, 201016 yr by Will27

Isnt there a 50,000baht limit you can take out of the country ??

I have been working in the middle east and Thailand for the past 5 years, this is money we have saved up.

We have a business plan for Australia but I worry the ATO will hit me with tax.

I have been working in the middle east and Thailand for the past 5 years, this is money we have saved up.

We have a business plan for Australia but I worry the ATO will hit me with tax.

If it is income you have already paid tax on you may not need to pay again, there are some agreements I have seen mentioned before on TV about this. Do you know any Australian accountants that you could ask, a search of www.ato.gov.au may help.

I have been working in the middle east and Thailand for the past 5 years, this is money we have saved up.

We have a business plan for Australia but I worry the ATO will hit me with tax.

It depends on a lot of things.

Was it taxed at source, is the company owned by

an Australian company etc?

If it is just your savings, you MAY not need to even

declare it but as advised, go to the ATO website

to clarify.

Regards

Will

My experience on this, you will have to declare as said, you will be asked where the funds are sourced from and why you are bringing such a large amount of folding into the country. In this brave new world of terrorism they will scrutinise cash coming across borders.

In regards to being taxed on it, only you know, if you are an Australian citizen? what is your tax status?, when did you last do a tax return? etc, I would just call the ATO prior to coming and ask them the question.