In Reply to: Max Cash Allowed posted by 2stroksmokr on Monday, 10. January 2011 at 16:25 Bali Time:
The customs officer in Australia, as you depart, in the booth as you show your passport asks if you are carrying more than au$10000.
So au$4000 is no problem.
Keep it in mind that your travel insurance will not most likely cover loss of that amount of cash.
Often wise to access funds via ATM in Bali. (Charges are minimal compared to losing your cash).
AUSTRAC - There is no limit to the funds that you can bring into or take out of Australia. Reporting these funds does not mean they will get confiscated. However, it is important for the Government to be aware of the movement of funds into and out of Australia.
These new reporting requirements were introduced under the Australian Government's Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
'This law is already playing a vital role in preventing money laundering, the funding of terrorism and major crime', Mr Jensen said.
What happens when you report these funds?
•When you declare that you are carrying $10,000 or more (or foreign currency equivalent) you will be asked to complete a Cross-Border Movement - Physical Currency $10,000 or more form. You will be given this form at the Customs examination area.
•If you are asked to report your bearer negotiable instruments, you may be asked to fill out a Cross Border Movement - Bearer Negotiable Instrument declaration form. A Customs officer or police officer will give you this form at the Customs examination area.