Avoiding paying tax when returning to Australia
Avoiding paying tax when returning to Australia
I have earned and saved about $30,000 in Cambodia in the past 5 years. If I take more than $10,000 back to Australia I need to report it at Australian customs. I don’t want to pay tax on this money.
I could try and walk it through in my pockets but this is not ideal if the customs officials sense that I have something to hide.
Would this work > take the $30,000 to Naga World Casino, cash the money to chips, wait half an hour, then take chips to counter, ask for $30,000 back. Get a receipt (do casinos issue receipts?), then at customs when entering Australian declare the $30,000, say it is gambling winnings that are not taxable, then problem solved.
Or any other suggestions from one convict to another
I could try and walk it through in my pockets but this is not ideal if the customs officials sense that I have something to hide.
Would this work > take the $30,000 to Naga World Casino, cash the money to chips, wait half an hour, then take chips to counter, ask for $30,000 back. Get a receipt (do casinos issue receipts?), then at customs when entering Australian declare the $30,000, say it is gambling winnings that are not taxable, then problem solved.
Or any other suggestions from one convict to another
There's no limit in how much you can bring in but you'll need to declare it over $10k. It's got nothing to do with tax just money laundering rules but the form you fill in will go to Austrac.
Customs or police won't charge you vat there and then!
If you have proof (bank statement, wage slips, interest, rental income) then you've nothing to worry about. Just declare it.
If not you must have earned it illegally.
The only way you can do it is online (where it will cost you) or in your boxers.
Customs or police won't charge you vat there and then!
If you have proof (bank statement, wage slips, interest, rental income) then you've nothing to worry about. Just declare it.
If not you must have earned it illegally.
The only way you can do it is online (where it will cost you) or in your boxers.
pew, pew, pew, pew!
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I could be wrong but I think hes asking about having to pay income tax on his international earnings not VAT?YaTingPom wrote:There's no limit in how much you can bring in but you'll need to declare it over $10k. It's got nothing to do with tax just money laundering rules but the form you fill in will go to Austrac.
Customs or police won't charge you vat there and then!
If you have proof (bank statement, wage slips, interest, rental income) then you've nothing to worry about. Just declare it.
If not you must have earned it illegally.
The only way you can do it is online (where it will cost you) or in your boxers.
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BTW, washing money in casino slot machines worked for gangsters in Canada for years. Not sure if it would work for you but it gets creativity points.
$30,000 over 5 years puts you well under the tax threshold anyway doesn't it ?
Just be careful taking it out of Cambodia , I got caught at the airport with a bundle of cash , the limit here is $10,000 also .
You could put it in a bank here with internet banking , ABA for example , and just transfer it to your self when the rates improve .
Just be careful taking it out of Cambodia , I got caught at the airport with a bundle of cash , the limit here is $10,000 also .
You could put it in a bank here with internet banking , ABA for example , and just transfer it to your self when the rates improve .
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How did that go for you ? Im going to withdraw a bundle at Christmas and take back to Vietnam. It's well over the limit.sattroni wrote: I got caught at the airport with a bundle of cash , the limit here is $10,000 also .
.
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Rated R for Ricecakes
Could it be a strategy to change them to the lowest possible notes? I mean, what are they going to do, count it?
Bless
Bless
Thanks for suggestions.
Trying to avoid paying income tax.
Already have taxable income in Oz.
Just had another idea. Have trusted Khmer friend open internet bank account, take control of their internet bank account. Put money in. Then transfer it all into my Oz bank account as a "gift". Taxman: "what is this money entering your account?". Me: "no idea, someone must have made a mistake".
Trying to avoid paying income tax.
Already have taxable income in Oz.
Just had another idea. Have trusted Khmer friend open internet bank account, take control of their internet bank account. Put money in. Then transfer it all into my Oz bank account as a "gift". Taxman: "what is this money entering your account?". Me: "no idea, someone must have made a mistake".
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Yep, every last note of every currency until it equals 10000. If you haven't declared, you've got some splaining to do.Alexandra wrote:Could it be a strategy to change them to the lowest possible notes? I mean, what are they going to do, count it?
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$USD is very attractive in KH. $AUS is very attractive in Oz. Either bring it into Oz $USD9999 at a time (NB! $10k inlusive and up is declarable if I remember correctly) and change it in Oz to $AUD. Now, when I do this kind of thing in Sweden I need to show ID for any amount over €100 or so, not kidding. And the currency exchanges report to the tax man. Oz seems to be as sinister as Sweden (or even worse like with its' Internet censorship policies) and I guess the tax man can simply argue that the cash comes from Oz derived undeclared income, as they can in Sweden, and then You are in shit.
Or, change it to $AUD in KH, maybe by someone You know and trust bringing $USD9999 in $AUD to KH, where You make a swap, Your trusted person gets $USD9999 from You and You get $AUD to the corresponding rate. Just check that there is no a limit of $AUD9999 as well. Or just go to the bank and accept the rate You get.
Repeat the above procedure a number of times until the $USD30k are safely back in Your home. In the meanwhile deposit the remainder in some sort of savings account. The problem for You might of course be to get tax receipts and IRS forms from KH, without which the tax man will argue that the money is from illegal activities.
Remember - in the Western world, CASH IS FOR CRIMINALS!!! All decent people are mortgaged over their heads and only pay with cards. This is the sad predicament right now. Maybe Germany is more understanding of cash. Anyone owning anything is chased into the ground.
Or, change it to $AUD in KH, maybe by someone You know and trust bringing $USD9999 in $AUD to KH, where You make a swap, Your trusted person gets $USD9999 from You and You get $AUD to the corresponding rate. Just check that there is no a limit of $AUD9999 as well. Or just go to the bank and accept the rate You get.
Repeat the above procedure a number of times until the $USD30k are safely back in Your home. In the meanwhile deposit the remainder in some sort of savings account. The problem for You might of course be to get tax receipts and IRS forms from KH, without which the tax man will argue that the money is from illegal activities.
Remember - in the Western world, CASH IS FOR CRIMINALS!!! All decent people are mortgaged over their heads and only pay with cards. This is the sad predicament right now. Maybe Germany is more understanding of cash. Anyone owning anything is chased into the ground.
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
Sensible IMOsattroni wrote:$30,000 over 5 years puts you well under the tax threshold anyway doesn't it ?
Just be careful taking it out of Cambodia , I got caught at the airport with a bundle of cash , the limit here is $10,000 also .
You could put it in a bank here with internet banking , ABA for example , and just transfer it to your self when the rates improve .
Open a Bitcoin account. Peer to peer payment/withdrawal system.
Tell them it's not yours, but that you work for a Cambodian newspaper and you're hand delivering it to the Cambodian Tax big cheese who is currently sipping Martinis on Bondai beach?
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
Not good , I was heading to Hong Kong with 120K , I had to pay 2K tax to the greedy customs guy .ricecakes wrote:How did that go for you ? Im going to withdraw a bundle at Christmas and take back to Vietnam. It's well over the limit.sattroni wrote: I got caught at the airport with a bundle of cash , the limit here is $10,000 also .
.
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