Moving Savings to Australia (PR)
Posted by BusyStill8051@reddit | expats | View on Reddit | 3 comments
What is the most effective and compliant way to transfer personal savings when relocating from the Middle East to Australia on permanent residency, ensuring all legal and tax obligations are properly managed without incurring unnecessary liabilities?
Bokbreath@reddit
afaik there are no tax implications for shifting your savings. different question for proceeds of asset sales like property. if you have australian banking accounts you can use something like wise for the transfer and the exchange rate will be slightly better than a bank will give you.
Topaz_11@reddit
Why would the sale of property be any different?
Bokbreath@reddit
capital gains tax comes into play