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bristojohn(Newbie)Newbie
30 Oct 2025

Dear ATO,

I am a permanent resident of Australia and a tax resident for Australian tax purposes. I recently received a transfer of funds from India into my Australian bank account. The funds are from my personal/family savings and are intended to be used as a 10% deposit for a property purchase in Australia. I would like to clarify whether this transfer is considered taxable income and whether I need to declare it in my Australian tax return.

Could you please advise on the correct treatment of these funds for tax purposes?

213 views
1 replies
213 views
1 replies

All replies

JayATO(Community Support)Community Support
3 Nov 2025

Hi @bristojohn,


Transferring money from your personal savings in India to your Australian bank account is not considered taxable income, so you don't need to include it in your tax return.


However, if the money earns interest in your Australian bank account, that interest must be declared as taxable income.


It's a good idea to keep records of the transfer, just in case you need to show where the funds came from later.

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Clarification on Overseas Fund Transfer and Tax Obligations | ATO Community