[regecks]

Why do you say they get away with it?

TW for sure reports to my country's financial intelligence agency (AUSTRAC).

I get paid in foreign currency via TW and it's pretty amazing.

[dzhiurgis]

What do you mean "for sure"? They claim they don't - https://transferwise.com/help/articles/2932394/how-does-tax-...

[wildfire]

In order to operate in Australia, you must report transactions over a certain threshold.

See: https://www.austrac.gov.au/business/how-comply-guidance-and-...

I have it good authority [1], that quite a few local Australian banks report when the threshold is 1000 or more.

For international transfers any amount must be reported:

https://www.austrac.gov.au/business/how-comply-guidance-and-...

[1]: My father works there.

[lmz]

Your linked Austrac page refers to cash transactions ("physical currency"). This one[0] however, says that any international funds transfer instruction (of any amount) needs to be reported.

[0]: https://www.austrac.gov.au/business/how-comply-guidance-and-...

[dzhiurgis]

If you get their eftpos card and never wire remaining balance to aussie then it can remain untaxed?

Plus you're not doing international wire - they transfer from their local account (not 100% sure how it's accounted tho).

[lukeholder]

> If you get their eftpos card and never wire remaining balance to aussie then it can remain untaxed?

This is what I want to know