# Bringing money into the country



## workdude1 (29 Nov 2005)

Hi,

I have a question relating to bring money back to Ireland.

I lived in Australia for a few years and moved back late last year. Due to the high interest rates. I decided to leave my money in Australia (am a citizen)

Have just decided to buy a property here in Ireland and need to transfer money back to Ireland. Any ideas on the cheapest/easiest way to do this? without flying over to sort it out?  Money would be in ANZ current account.  also any tax implications, paid tax on it already over there.

Thanks...


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## bb1 (29 Nov 2005)

I would ring the your Australian branch and ask them will they instruction over the phone/fax (hardly), they will most likely require a letter.  It should just be a matter then of providing your Irish bank a/c details for them to t/f the cash back.  Don't think you'll be liable for tax.


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## dam099 (29 Nov 2005)

bb1 said:
			
		

> Don't think you'll be liable for tax.


 
Not quite, you may have a liability to tax on any interest you have received since moving back but the capital itself should not be liable to tax.


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## workdude1 (30 Nov 2005)

Thanks got it sorted, rang them up. I didn't think they would do it over the phone but they will.


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## sudden (30 Nov 2005)

hi.
is that a cheap way to tranfer money between countries? why not write yourself a check from the australian account and deposit it in your irish bank account?, just curious?
sudden


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## dam099 (30 Nov 2005)

sudden said:
			
		

> hi.
> is that a cheap way to tranfer money between countries? why not write yourself a check from the australian account and deposit it in your irish bank account?, just curious?
> sudden


 
Writing a cheque is a very slow way to do it, if the Irish bank accepts it they will have to go through international clearing which can take weeks (I have heard 4-6 weeks for US cheques for example). A Euro draft issued by an Australian bank but drawn on an Irish bank would be much faster but has the risk that a lost draft is hard to stop. If it is a largish amount of money sometimes I think it is worth it for speed and security to grin and bear the higher fees and get an electronic transfer done.


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