Do I need to pay any tax on transfers?
This article explains whether Send takes any tax from your international transfer, and what you may need to think about for your own tax situation.
General advice only:
The information in this article is general in nature and does not consider your personal circumstances. Please read our Financial Services Guide (FSG) and Product Disclosure Statement (PDS) on our website. Send Payments Limited holds Australian Financial Services Licence No. 509635. For information about your own tax position, please speak to a registered tax professional or your local tax authority.
The short answer
- Send does not charge or deduct tax from your international transfer.
- You may have your own tax obligations depending on your personal circumstances and local tax rules.
- If you're not sure, please check with a registered tax professional or your local tax authority.
If you're in Australia
- Send does not deduct tax from your transfer.
- Whether you have any tax reporting or tax obligations depends on your personal circumstances and applicable ATO rules.
- For information about your own tax position, visit ato.gov.au or speak to a registered tax professional.
If you're outside Australia
- Send does not deduct tax from your transfer.
- Tax rules vary by country, and any tax obligations will depend on your personal circumstances and local rules.
- Please check with your local tax authority or a registered tax professional in your country.
Tax in the recipient's country
Some countries require the receiving bank to apply local tax rules, withholdings, or reporting on incoming international transfers. This is set by the destination country, not by Send.
- Some countries also require a tax identification number for the recipient before the payment can be released. For more on this, see Why do I need a tax code?.
- If you'd like to know whether the amount you send is the same as the amount your recipient will receive, see Does Send charge fees to send my money?.
What happens next
- When you make a transfer with Send, the amount you confirm is the amount we send. We do not deduct tax along the way.
- Any tax you may owe is between you and your tax authority.
- Keep your payment confirmation as a record. You can use it when speaking to your tax advisor or your local tax authority.
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