How much cash can I take to Australia before I get taxed?

Question

I have just sold all my possessions to move to Australia. I have a lot of cash I want to take with me. How much cash do I have to declare when crossing the border? Will I be suspected of anything if I take large amounts of cash with me?

Answer 1

You'll have to declare on a custom form while still on plane, if you are carrying cashing in or out of Australia for over AU $5000, if I remember right. However, just declare, and explain where you get that money from. Provide supporting document is a good idea.

Australia welcome oversea capital. It just doesn't want money laundry.

Search on google, type: "declare, cash, enter Australia" or things like that. Government websites are clear and informative. You won't miss.

Good luck.

Answer 2

I don't think there is a limit, but you must declare larger amounts ( I think over $10,000) to customs. I think you would be much better/safer to open an Australian bank account when you arrive and then transfer your money electronically rather than in cash.