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.

Updated Dec 3, 2019

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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.

Money transfer services with no maximum sending limit

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AUD 250	1 - 2 days	AUD 0.00	4.75	CNY 47,504	$0 transfer fees for Finder customers. No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
GBP 3,000	1 day	N/A	N/A	N/A	Global Reach will match any competitor's exchange rates. Conditions apply. Get no fees for both business and personal transfers when you send your money overseas with Global Reach.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 3,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email, Branch Available currencies AED, AUD, BBD, BGN, BHD, BSD, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, ILS, JPY, KES, KWD, KYD, MUR, MXN, NOK, NZD, PLN, RON, RUB, SDG, SEK, THB, TRY, UGX, USD, XCD, ZAR Go to site Read the full review

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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Leah Fallon

Leah Fallon is an editor for Finder. With 10 years of teaching English under her belt, it was a natural progression to move into editorial. She's written feature pieces for regional print and digital media and today helps 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 exploring the trails of Loudoun County, Virginia and wrangling her two sprightly girls.

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TorFX guarantees to match any competitor's exchange rate. Conditions apply.
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SendFX International Money Transfers

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Fee-free transfers in 30+ currencies to over 200 countries.

More info

WorldFirst International Money Transfers

Better exchange rates for Finder customers.
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OFX (Ozforex) International Money Transfers

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Tax guidelines and regulations for large money transfers into China