Any person who removes more than $10,000 in cash from Australia commits an offence under the Financial Transactions Reports Act 1988 (Cth).

Question

Quizplus · Accepted Answer

The act of removing more than $10,000 in cash from Australia is not in itself an offence under the Financial Transactions Reports Act 1988 (Cth). However, failing to declare amounts over $10,000 AUD (or foreign equivalent) to the Australian Customs Service when leaving Australia is an offence. The key issue is the declaration of the amount, not the act of carrying over that amount.

Any Person Who Removes More Than $10,000 in Cash from Australia