# How much money to bring with us???



## engrchrisdizon (Jun 29, 2009)

Me and my wife together with our son are migrating to WA on February next year and we are worried on how much money we would bring with us. We wanted to make sure that we will not be short of money when looking for a house to rent, for food, and other expenses that is why we are planning to bring more than AUD10K but we are worried if we declare it , we might encounter delays or problems in the process. 

Anybody experienced declaring more than the allotted limit? Are they strict when bringing in large amount of money? Are they going to hold us and ask us why we have that amount of money with us? What is the normal procedure they are doing when they encounter people entering Australia bringing in money more than the limit. 

Another thing, is it easy to bring US dollars in Australia and have it exchanged later on to AUD when we arrive Australia or we have to bring AUD already?

I would really appreciate all your advise. Thank you in advance.


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## anj1976 (Apr 24, 2008)

Hi

Since you are migrating, you can bring as much, the reason fr declaring it is for tax purpose, if you do not declare more thn 10k, they might levy tax if noticed later (read this somewhere, cant recall where). when one is migrating, they also know most people sell everything and come with huge chunk with them for settling. I dont think there is much delay in terms of declaring. I am not sure but it must be just a form to be filled.


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## engrchrisdizon (Jun 29, 2009)

anj1976 said:


> Hi
> 
> Since you are migrating, you can bring as much, the reason fr declaring it is for tax purpose, if you do not declare more thn 10k, they might levy tax if noticed later (read this somewhere, cant recall where). when one is migrating, they also know most people sell everything and come with huge chunk with them for settling. I dont think there is much delay in terms of declaring. I am not sure but it must be just a form to be filled.


Hi Anj. Thanks! and Good to hear that we can bring along more than the limit. You mentioned for tax purpose? You mean we we bring lets say AUD15K they will ask us to pay a certain percent of tax? Am I right?


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## M.Omar (Dec 18, 2009)

Hello,

Happy New Year

Good that topic has been surfacing also.

I have another question in the same context, how many months (in average) should we have of reserve finances till I get a job (provided that I am an electrical engineer with 10 years experience).

I assumed 3-4 months of finance, plus some for setup fees (all about 30 K AUD), does that sound reasonable or over/under estimated.

Thanks,

M. Omar


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## Faisal (Sep 20, 2009)

M.Omar said:


> Hello,
> 
> Happy New Year
> 
> ...


Hi Omar

I am also an electrical engineer (with 5 years working experience) and relocating to Australia on PR VISA (GSM 175) in March. Have you thought of any plans of looking for electrical engineering jobs while in Australia?

Best Regards


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## M.Omar (Dec 18, 2009)

Hello Faisal,

I have been here in Australia couple of years ago for a job offer back then in Melbourne but I did not take it.

I think Electrical Engineering in General is in demand, but it differs from industry to industry.

What are you specialized in, design, power transmission operation, maintenance, control or manufacturing.

where are you planning to go in Australia?

Regards,

M. Omar




Faisal said:


> Hi Omar
> 
> I am also an electrical engineer (with 5 years working experience) and relocating to Australia on PR VISA (GSM 175) in March. Have you thought of any plans of looking for electrical engineering jobs while in Australia?
> 
> Best Regards


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## Faisal (Sep 20, 2009)

M.Omar said:


> Hello Faisal,
> 
> I have been here in Australia couple of years ago for a job offer back then in Melbourne but I did not take it.
> 
> ...


Hi Omar

I am planning to move in March (still to book my flights). My last date of initial entry is April so have to move before that.

I am specialized in Building services, Telecommunication Power, Power Distribution and also renewable energy (solar power).

Best Regards

Faisal


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## M.Omar (Dec 18, 2009)

Building services are so much in demand in Melbourne according to my knowledge.

Did you try SEEK - Australia's no. 1 jobs, employment, career and recruitment site

Check Engineering section, keyword electrical engineer and choose melbourne

you will see what I am talking about, also you will have an idea about the pay.

what was your time line?

Regards,

M. Omar





Faisal said:


> Hi Omar
> 
> I am planning to move in March (still to book my flights). My last date of initial entry is April so have to move before that.
> 
> ...


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## Faisal (Sep 20, 2009)

M.Omar said:


> Building services are so much in demand in Melbourne according to my knowledge.
> 
> Did you try SEEK - Australia's no. 1 jobs, employment, career and recruitment site
> 
> ...


Thanks for the suggestion. Most of them are looking for experience in Australia which I do not have. Have you gone through the Australian Electrical Standards? I have but it still doesn't pleases the recruiters as they want people who have put these standards into practice.

My time lines are Applied for GSM in July 2008, CO assigned in April 2009, Visa Approved in August 2009.

Keep in touch. Are you going to Melbourne as well?

Best Regards

Faisal


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## anj1976 (Apr 24, 2008)

Hi Engr...

I am not sure but I read that if you do not declare, they consider it as your income (later if they do realise u hold an X amount more thn 10k), if you do declare, there are no taxes involved. I might be wrong, this is just an information i read somewhere a while ago.. i dont even remember wehre..


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## M.Omar (Dec 18, 2009)

Hello Faisal,

Actually what I think from my previous experiece being recruited in Australia, that even if the standards are a bit different, still it's a set of regulations around the technical core you are already aware of it from your practice as an expat electrical engineer, for example the lightening storms protection, they rarely use 11 KV as main supply MV switch gears, but it remained things you can aquire.

Also in the company I was offered that job, mostly were engineers from china, south Africa, India , UK and Australia, side by side, if they wanted only australian experience they wouldn't have considered me from overseas and paid for my trip.

What I think is the Australian experience will be favoured in case of a manager role, but as an engineer it might not be as essential as it seems to be, or otherwise why Australia requires so much electrical engineers as expats.

I am considering Melbourne as my destination, I think it has the potential for both life style and career, also it seems to be a good multicultural environment.

Let me know what you are thinking,

Happy new year again,

Regards,

M. Omar



Faisal said:


> Thanks for the suggestion. Most of them are looking for experience in Australia which I do not have. Have you gone through the Australian Electrical Standards? I have but it still doesn't pleases the recruiters as they want people who have put these standards into practice.
> 
> My time lines are Applied for GSM in July 2008, CO assigned in April 2009, Visa Approved in August 2009.
> 
> ...


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## mr.india (Jul 28, 2009)

anj1976 said:


> Hi Engr...
> 
> I am not sure but I read that if you do not declare, they consider it as your income (later if they do realise u hold an X amount more thn 10k), if you do declare, there are no taxes involved. I might be wrong, this is just an information i read somewhere a while ago.. i dont even remember wehre..



Hummm That's interesting.. I would appreciate if someone can share more info on that. Say while migrating, we declare X amount of money, you mean that this x amount will stay tax free in Australian account?

Scenario -2 say if we have x amount with us and we show x-100000 while immigrating, later if we decide to bring 100000 in Australia (which is in overseas account). It would be considered as Australian income and we will have to pay taxes for 100000?

Appreciating your answers..


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## engrchrisdizon (Jun 29, 2009)

anj1976 said:


> Hi Engr...
> 
> I am not sure but I read that if you do not declare, they consider it as your income (later if they do realise u hold an X amount more thn 10k), if you do declare, there are no taxes involved. I might be wrong, this is just an information i read somewhere a while ago.. i dont even remember wehre..


Thanks for the information Anj. We are willing to declare but I hope there would be no taxes yet since we will just make our first step there.  

Maybe some members here can share their experiences. Another thing, is it advisable to bring with us US dollar or it should be AUD already? Thanks again and happy new year...

Chris


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## mr.india (Jul 28, 2009)

OKay, I found our the following while researching..

If you take more than A$10,000 to Australia, in cash, you must declare it to customs when you arrive in Australia.

You do not pay tax on money you take to Australia.

After you have arrived in Australia with the intention of taking up residence you will become a tax resident of Australia. *You will be liable for tax on income and capital gains from any investments in Australia and any you still have overseas.*

So, might as well declare everything while going. 

Source: Moving Money To Australia


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## bishoy (Sep 2, 2009)

I think we are off the topic a bit...
I need to know how much to bring with me when moving too, any suggestions?


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## anj1976 (Apr 24, 2008)

Bishoy, there is no fixed amount. some take as less as 10k and manage, others take 100k and still feel short in a few months. 

for a single, approximate cost of living is 1200-2000 including stay (as backpacker) food etc. sky is the limit when u talk of luxury accommodation etc.

Save as much as you can, carry as much as you can. if it isnt used, it will be safe in the bank, you got nothing to loose.

when we started the entire procedure, we were told, take atleast 10k, as suggested by friends who moved a couple of years back.


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## bishoy (Sep 2, 2009)

Thanks again Anj, I feel like on a PM thread with you here 
It is clear that I can get as much as I can. We are talking here about the minimum. Of course if I had 100,000$ I wouldn't be asking this question on the forum.
Anyway thanks.


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## M.Omar (Dec 18, 2009)

Hello Bishoy,

Happy New Year to you from a fellow Egyptian.

Actually I have studied a bit of the Cost of Living sticky (with great help from my wife) and we agreed on a family (2 adults + 2 kids) would require 4000 - 5000 K/monthly for a balanced moderate life style (not so luxurious) including rent (Melbourne is targeted as destination) .

I have assumed a max of 4 months till I get a decent job (I am an Electrical Engineer in Manufacturing with 10 years experience), that will sum up about 16000 - 20000 K

I have also assumed another 10 K for furniture and house setup, so all ends up for 25 - 30 K as min thought.

For a single person I would estimate from 10 - 15 K for the same conditions.

I have not moved yet to Australia by the way, these figures are based on studying Cost of Living sticky thoroughly and based on a visit to Melbourne earlier in 2008.

let me know what you think fellows, and also Anj as you seem well aware of that sort of info also.

Regards,

M. Omar 




bishoy said:


> Thanks again Anj, I feel like on a PM thread with you here
> It is clear that I can get as much as I can. We are talking here about the minimum. Of course if I had 100,000$ I wouldn't be asking this question on the forum.
> Anyway thanks.


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## bishoy (Sep 2, 2009)

Thanks Omar,

I am not single, I am married and we have a little kid, so I think I am with you in the 30K$ range although I wished 10K were enough. I think I will be heading for Sydney and I've read it is a bit more expensive than Melbourne. I found some nice flats with two rooms for as low as 300$ a week in St. George and some are a little less. So I think you can make it with 1200-1400$ a month for nice accommodation for a little family.


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## M.Omar (Dec 18, 2009)

Hello Bishoy,

Our estimations anyway were on the higher side for security reasons, but it may end up at lower level for the actual situations.

I believe Sydney won't be so much more expensive regarding food and commodities but definitely is more expensive regarding accommodation, We estimated (from the internet rental sites and also the forum) - AUD 400 - 500/week for 3 bed room unfurnished, so for 2 bed room it may be less, I am not sure about Sydney because it's definitely not on my list.

So you maybe ending up at 20-25 K min, I would say for a secure move with your family.

I recommend you to study the Cost of Living sticky, it's very useful.

Wish you all the best and Keep us posted.

Regards,

M. Omar


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## riversandlakes (Nov 18, 2009)

Mate, you MUST DECLARE if it's above A$10,000. Failure to do so is a CRIME under some act.


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## engrchrisdizon (Jun 29, 2009)

riversandlakes said:


> Mate, you MUST DECLARE if it's above A$10,000. Failure to do so is a CRIME under some act.


Thank you all for sharing your thoughts. Really appreciated it!!! 

Happy new year to all!!!


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## raspberrykitty (Jan 6, 2010)

Do you still have to declare it if its in your bank account ? I thought you only had to declare cash? Surely no one would take it in cash? x


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## steve49 (Nov 11, 2009)

*bringing money*



engrchrisdizon said:


> Me and my wife together with our son are migrating to WA on February next year and we are worried on how much money we would bring with us. We wanted to make sure that we will not be short of money when looking for a house to rent, for food, and other expenses that is why we are planning to bring more than AUD10K but we are worried if we declare it , we might encounter delays or problems in the process.
> 
> Anybody experienced declaring more than the allotted limit? Are they strict when bringing in large amount of money? Are they going to hold us and ask us why we have that amount of money with us? What is the normal procedure they are doing when they encounter people entering Australia bringing in money more than the limit.
> 
> ...



The 10k limit applies to cash...why do u want to bring it in cash...many other options...also most debit and credit cards are accepted here and is easy to withdraw money here from your account overseas if u have appropriate debit card


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## bishoy (Sep 2, 2009)

steve49 said:


> The 10k limit applies to cash...why do u want to bring it in cash...many other options...also most debit and credit cards are accepted here and is easy to withdraw money here from your account overseas if u have appropriate debit card


Check for fees and exchange rates for different methods though, to choose the cheapest way to use your oversees money.

I think using you home-currency credit card isn't the cheapest way (slightly higher exchange rate and fees on every transaction).


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