Expert Info

Posted by
on 10 Feb 2015

I'm going to Adelaide on a permanent visa. One option is to transfer my funds to a commonwealth bank before i go. Will the money be considered as 'income' and taxed when i'm in australia.

Kippling on 10 Feb 2015
No transfer of accounts wont be taxed but the transfer is very expensive. Banks can charge 6-10%. You can opt for a cheaper option. Contact I think they are doing a deal right now for banking.
Daune on 10 Feb 2015
Thanks Kippling. i'm moving from India, so i don't think they are an option.
e4f on 6 Oct 2015
Exchange4free does transfers cheaper than the banks, they can do the transfer into Common Wealth. :) They are very good.