Hi everyone!
Hope all is week. Just thought to ask po sana if for example you may need to transfer say 35k AUD from OZ to a non relative person/friend in PH. Also, just thought to ask din po the following:
(1) I gathered from reading online, it seems na if more than 10,000 AUD ang international fund transfer ay need ideclare because of tax (?) purposes sa OZ? Otherwise, ano po kaya risks?
(2) I also gathered online, it seems sa PH, any funds in form of gifts from abroad in excess of 250Kphp within same calendar year will be taxed 6%. E.g. per table below, for 1.2Mphp money remitted, there is 950K net gift over 250K. So it will be 14Kphp + 6% x (excess over 500K = 450K)?
(3) item 2 is not necessarily needed or not applicable for my situation.
(4) What is the best way of carrying out the international fund transfer in terms of hindi naman maging suspiscious and magka issue sa AML law (anti money laundering law ng OZ)? I have these thoughts po kasi na since hindi blood related and hindi normal activity yung big remittance na yun e baka mapansin? Or hindi naman po yun magiging issue basta i breakdown into smaller amounts in batches yung remittance?
Thank you in advance po for your time and any assistance is grealty appreciated. Kindly correct na lang po if any of my understanding is wrong.
Here is the link po for the BIR taxes on international fund transfers which I saw.
https://www.bir.gov.ph/index.php/tax-information/donor-s-tax.html
most recent by xiaolico
most recent by kiddo1994
most recent by kiddo1994
most recent by PeanutButter
QUEENSLAND STATES SPONSORSHIP FY 2024-2025
most recent by hannahesther
Australian Computer Society Skills Application
most recent by casssie
General Skilled Immigration Visa - Step By Step Process
most recent by casssie
AUSTRALIAN CITIZENSHIP TIMELINE
most recent by Hunter_08
most recent by nicpernites
most recent by purpleofdoom
The longest running Pinoy-Australian Forum site in the history. We are connecting Pinoys "in" and "to" Australia since 2010! If you want to join in, click one of these buttons!