Avoiding paying tax when returning to Australia
So basically you can just show them an employment contract and say it is your earnings ?
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Yeah, as long as it adds up. Or say you sold a property/house/car or whatever and want to carry cash all you have to do is show them the papers. They count it, document it and thats it - on you go.ricecakes wrote:So basically you can just show them an employment contract and say it is your earnings ?
People always think its illegal or you are not allowed to carry more than 10000USD across many borders. Lots of travellers split the money up and say... oh I am carrying 6000 and my buddy has 6000 too. If they find out its all one persons cash they will seize the cash, apply a penalty and until you pay that you dont get your money (first time offence in Canada is $250 I believe for the penalty) But after that you will probably be flagged and hassled every time you cross that border. It has nothing to do with the amount of cash, they just want to know how much and where its from.
Of course, you can declare the cash. However, when the cash is in such a value, that you should have declared it as a possession with past tax-declarations, you suddenly will get into troubles. Even, when you manage to pass the border. Now your money is registered, etc and you'll get nasty questions about income & other taxes.kansaicanuck wrote:Yeah, as long as it adds up. Or say you sold a property/house/car or whatever and want to carry cash all you have to do is show them the papers. They count it, document it and thats it - on you go.ricecakes wrote:So basically you can just show them an employment contract and say it is your earnings ?
People always think its illegal or you are not allowed to carry more than 10000USD across many borders. Lots of travellers split the money up and say... oh I am carrying 6000 and my buddy has 6000 too. If they find out its all one persons cash they will seize the cash, apply a penalty and until you pay that you dont get your money (first time offence in Canada is $250 I believe for the penalty) But after that you will probably be flagged and hassled every time you cross that border. It has nothing to do with the amount of cash, they just want to know how much and where its from.
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You clean it through diffusion. Once back in Oz and into a decent job, You use only a minimal amount of Your salaryv12 wrote:Far more important then the short-term problem of repatriating your money, is: What are you going to do with it ?
The moment you talk about substantial amounts, all items you can buy with it, are "registered" and you will be asked, when the collated amount of registered assets is (significantly) higher then your official income would allow you.
(some countries banks are instructed to flag the authorities if someone doesn't use the salary) to avoid being flagged
by "they". Then You use the cash for all daily expenses while Your salary grows in Your bank account, pay only fixed
traceable expenses like rent and utilities from Your bank account. $30k might be used up in 2-5 years by this method
depending on living standard. Not fast but comfortable and can't be traced unless the tax authorities put a tail on You
to document Your life but that is unusual since $30k is not so much money and all tax authorities work for profit. Also
try to buy items off Craig's list or similar from private sellers who accept cash.
Most Western countries retire their bank notes at intervals to make life more difficult for people like the OP but then
I suggest a visit to some gold shops in Bangkok's Yaowarat Rd to pick up some jewellry ohn each trip to Cambodia,
reasonable amounts of jewellry is not taxable and Thai gold is usually bought back at noly a few percent loss. Also
some countries like Chine issue gold coins which is formal currency and therefore tax excempt. Some countries levy
VAT on bullion but not on currency.
Cambodia - tickets booked, moved on to mission planning DONE
Mission completed, reported to Col Braddock. DONE
Now ranting about the experience ONGOING
Mission completed, reported to Col Braddock. DONE
Now ranting about the experience ONGOING
All this nonsense about having $9999 in cash is hilarious.Too many Sopranos eps.
In Australia if they suspect you of illegal money they can request info from your bank.
Legally.All transactions-yes, less than $10k.
$30k is a trifling sum, you are a pimple on nobodys arse.Just do it , declare it & go home.
In Australia if they suspect you of illegal money they can request info from your bank.
Legally.All transactions-yes, less than $10k.
$30k is a trifling sum, you are a pimple on nobodys arse.Just do it , declare it & go home.
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