Aussie to send payments to O/S family.

Hi,

I have a friend who has been given permanent residency. He is looking to support 6 members of his family that live overseas. What structures are available for him to put in his wages, then have these funds sent to his family?





Johny.

 

Hi Johny,

What do you mean by structures? Do you mean tax structures? Or just FX services?

If it's the latter a lot of expats in Australia use services like HiFX.com, XE.com or ozforex.com.au. The rates are better than those at banks.

I haven't used them myself but those three at least seem to be legit.

RB

 

Thanks RB,

I mean both an Australian tax minimumization structure and a foreign exchange service. Wages will be saved here then transfered abroad. My friend's family live in africa, which makes transfers more difficult. The more money he can save, the more it can be split between his 6 family members. What would be best for my friend?





Johny.

 

Would a holding trust be worthwhile creating for overseas payment? The Aussie dollar is strong at the moment. How can I best help my friend?








Johny.

 

Pennytel

Try Pennytel.com.au for your forex transfer. I found them cheaper than the rest.

 

Is there any way to save on tax if your wage has to support many people?







Johny.