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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

11-04-2015 09:36AM

#1

denis1976

Registered Users, Registered Users 2 Posts: 2 ✭

Join Date: January 2011

Posts: 0

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

0

Comments

#2 11-04-2015 03:45PM

Jim2007

Moderators, Business & Finance Moderators Posts: 11,044 Mod ✭✭✭✭

Join Date: May 2010

Posts: 10845

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.

0