What to consider when bringing funds into Australia?

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This article, “Bringing Money into Australia,” by community member, Heath Stewart of Ecovis Clark Jacobs, provides some valuable insights into the regulations and legislative environment in Australia.

For Australian residents, tax is payable on world wide income, so if you are sending money ahead of immigrating, as Heath says in the article, it is important you have the appropriate paperwork in place in relation to any transfers. Capital is not subject to tax, only the income it earns whilst resident in Australia is taxable.

It is important for those intending to move capital around to discusses with their bank, accountant or financial advisor, and ask relevant questions. It goes without saying that having advisors who regularly deal with internationally connected clients is essential to get the right information at the right time.

You can read the full article here. To find out more about Heath Stewart and how he can help check out his member profile or go to the Ecovis Australia website.