I have sold my ancestral property in India. I want to transfer my money from indian bank account to australia. I have paid capital gains tax in India. Will there be any tax implications in Australia.
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Hi @TARA82,
Generally, when you transfer funds from your overseas personal account into a personal bank account here in Australia there's no tax implications.
But when the funds earn interest, this income needs to be reported on your tax return, and you'll liable for tax.
This is quite a common question on here check out ‘bringing money to Australia’.
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Hi @TARA82,
Generally, when you transfer funds from your overseas personal account into a personal bank account here in Australia there's no tax implications.
But when the funds earn interest, this income needs to be reported on your tax return, and you'll liable for tax.
This is quite a common question on here check out ‘bringing money to Australia’.
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