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better late than never. still some planning ops.

Just consider that bankruptcy could occur at some stage and think of strategies to increase protection. You should always seek legal advice before receiving any largish sums of money.

All financial transactions are captured by AUSTRAC - except perhaps the underground banking systems such as hawala and Feichien.

Consider the clawback provisions in the bankruptcy act. Once it hits hte acccount of A it could later be clawed back if Mr A transfers it to Mr B or to a discretionary trust. If might be worthwhile planning who holder of the cash will be. Further planning may involve who this entity will lend to...

Under s118-145 itaa97 you can count you main residence as your main residence for up to 6 years of absence if rented.

Assuming you live in the Australian property and it meets all other requirements then yes you could claim it as the main residence, but not for any overlappying period. your Australian property would probably be such to CGT. Probably the valuation wouldn't matter but a % of the time it wasn't...

Dont forget you can only have one property exempt from CGT at any one time. If you claim the UK house as your main residence then the Australian house cannot be exempt from CGT at the same time. This statement is misleading: It doesn?t matter whether you bring the money here or not. It is...

It would be hard as the laws prohibit this at the moment. The ATO like others can only do what is lawful. If the laws were changed it would be easy to implement. But they can easily cross reference with names on title and they are collecting this information now. Some people even get letters to...

Ex-spouses are the greatest source of intelligence to the police agencies and I imagine tax office. Bittnerness is a great motivator.

Please tell me their names and/or adddresses so they can be reported. Yes there are many people evading tax inn this country, and even laundering the proceeds and benefitting foreign countries - we have to stop them if we can.

Tax fraud is not advisable because it is a crime and there are civil penalties as well. There is also ever increasing data sharing between countries - especially first world commonwealth countries. If it was Laos then the chances are very slim but the UK the chances of getting caughter are...

You should seek tax advice rather than rely on a website, but I believe that may be the case. There may be a few strategies you could use to reduce tax. Gifts are generally tax free in Australia

What are the things I need to take into consideration when doing this? What are the tax implications of bringing my money over from abroad? Will it be classes as income, will it be liable for CGT? Should I keep the money over in the UK and bring it over as and when I need it, or bring it over...