Tax guidelines and regulations for large money transfers into China

Learn how to deal with tricky taxes when sending money to loved ones or to businesses in China.

Buying an apartment in Guangzhou, starting a business in Beijing or studying in Shanghai can require sending large money transfers to China. Before you move your money out of Australia, learn more about whether China taxes large cash remittances.

How China regulates large remittances

When sending money to China, you may be concerned about potential gift taxes. The good news is that China is one of the few countries that doesn't levy an inheritance or gift tax on cash sent into the country.

However, this may not stay the same in the future. China announced in 2017 that it's considering imposing inheritance and gift taxes in the next few years. We'll update this space as details trickle in.

Do I have to report large transfers out of Australia?

You personally won't have to report any amount of money you transfer out of Australia. The bank or money transfer company you use will do this for you. They are required to report any suspicious transfers or transfers over $10,000 to AUSTRAC (the Australian Transaction Reports and Analysis Centre).

How will my recipient receive my remittance in China?

The process of receiving a money transfer in China depends largely on your provider and how you've marked it for delivery. Your recipient may need to provide government-issued photo ID or a transaction confirmation number to receive your funds.

If they have an account with a Chinese bank or money transfer company, they may not need to provide this information every time you send money.

DISCLAIMER: This article is general advice. It does not consider your own personal circumstances and may not be applicable to you. You should obtain professional advice and consider your own situation before acting on anything contained in our article.

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AUD 250 1 - 2 days AUD 0.00 4.818 CNY
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AUD 200 1 day AUD 0.00 4.817 CNY
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AUD 3,000 1 day AUD 0.00 4.817 CNY
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AUD 10,000 1 day AUD 0.00 4.764 CNY
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AUD 250 2 days - - Pay $0 fee when you transfer more than $5000, regardless of whether you transfer online, over the phone or in branch. Go to site Show details

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Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Leah Fallon

Leah Fallon is a writer and editor for She's here to fix annoying apostrophes, elusive infinitives and the muddled em and en dash. When she's not helping people with their finances, you can find her wrangling her two sprightly girls in Leesburg, Virginia.

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