Sending money home or receiving an inheritance? Here's what the ATO wants to know

If you've ever sent money to family back home or received a large amount from overseas, the Australian Taxation Office (ATO) would want to know about it. Most transfers are legal and untaxed, but the rules around what to declare, what to keep records of, and the AUSTRAC and ATO rules most people don't realise apply to them. In the final episode of Money Matters, Swati Sharma of SBS Hindi sits with registered tax agent Puneet Singh ahead of the EOFY to walk through the rules on sending and receiving money or inheritance from overseas.In the final episode of Money Matters, host Swati Sharma sits with a registered tax agent to walk through the rules on sending and receiving money or inheritance from overseas.