I currently hold a 489 temporary visa & have been staying with my family in SA for the past 2 years. Employed & have done my annual ITR's.
I hold a NRE account in India, where my FD amounts are saved; i wish to repatriate all the FD amount to my Australian bank account.
Want to know, if i will be taxed if i repatriate the FD amounts from my NRE saving accounts when i transfer the amount to my personal bank account in Australia?
Hello @Puruviji1975,
We don't tax people for transferring money to there own account. However, you'll be subject to tax on any bank interest you earn once it is in the account. If you wanted a little extra caution I would discuss the transfer with the bank you are going to use so they can assist you to transfer it correctly. We have answered similar posts about transferring money if you wanted to read more about the subject.
Hello @Puruviji1975,
We don't tax people for transferring money to there own account. However, you'll be subject to tax on any bank interest you earn once it is in the account. If you wanted a little extra caution I would discuss the transfer with the bank you are going to use so they can assist you to transfer it correctly. We have answered similar posts about transferring money if you wanted to read more about the subject.
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