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Transferring injury compensation monies from Australia to Ireland

denis1976 · 2015-04-11 08:36:20

My friend just got a significant compensation payout. He's moving back to Ireland. Will he have to pay any taxes on these monies . Thanks

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11-04-2015 9:36am

#1

denis1976

Registered Users Posts: 2 ✭

Join Date: January 2011

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My friend just got a significant compensation payout. He's moving back to Ireland. Will he have to pay any taxes on these monies .

Thanks

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#2 11-04-2015 3:45pm
Jim2007

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Join Date: May 2010

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No it will be treated as a capital sum and not subject to income taxes. However he can expect to be asked to provide solid documentation of the source of the cash by the bank as they are required to ensure that there is no money laundry involved.

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