Sending money to Australia can feel confusing if you are unsure about the documents, fees, and taxes applicable. In this guide, we break down the entire process for sending money from India to Australia and help you choose the most cost-effective option.
Also Read: Is UPI the Best Way to Transfer Money Internationally?
Required Documents
- Government-issued photo ID proof of the sender in India. You can present documents such as a passport, voter’s ID, or Aadhar card.
- PAN card copy of the sender
- A passport copy of the beneficiary
- Filled A2 form
- Necessary purpose proofs
Required Beneficiary Details
- Beneficiary Name
- Permanent address (as given in the bank)
- Bank name
- Bank address
- Bank account number
- SWIFT Code
- BSB Code
How Much Money Can Be Sent to Australia from India
The highest amount that can be sent for any reason to Australia in a financial year is determined by the sender’s residential status in India.
International money transfers for NRIs fall under the NRI repatriation purpose of international money transfer.
| Residential Status | Account Type | Maximum Remittance Limit |
| Resident Indian | Savings Account | USD 2,50,000 equivalent in GBP (EUR 2,00,000 approx) |
| Non-Resident Indian | NRO Account | USD 1 million equivalent in GBP (GBP 8,00,000 approx) |
| NRE Account | No limit |
Taxes Applicable for the Sender on Remittance to Australia
The Indian government imposes two taxes on foreign remittances to Australia and other countries.
TCS (Tax Collected at Source)
TCS applies to international money transfers based on the purpose.
| Type of Outward Remittance | Rate of TCS for up to Rs. 10 Lakhs | Rate of TCS for Above Rs. 10 Lakhs |
| Education Purposes (financed by education loan) | Not Applicable | Not Applicable |
| Education Purposes (financed by other sources) | Not Applicable | 2% of the amount above Rs. 10 lakhs |
| Medical Treatment Abroad | Not Applicable | 2% of the amount above Rs. 10 lakhs |
| Overseas Tour Package | 5% of the total amount | 20% of the total amount |
| All Other Purposes | Not Applicable | 20% of the amount above Rs. 10 lakhs |
Also Read: New TCS Proposals on International Money Transfer in Budget 2026
GST (Goods and Services Tax)
GST is calculated based on transaction volumes, which are divided into three slabs. The method for calculating the GST value varies for each slab.
| Slabs | GST Payable | Minimum Tax to be Paid | Maximum Tax to be Paid |
| Slab 1 (Upto Rs. 1 lakh) | 0.18% of the total amount sent abroad | Rs. 45 | Rs. 180 |
| Slab 2 (Rs.1 lakh – Rs.10 lakhs) | Rs.180 + 0.09% of the amount above Rs. 1 lakh to Rs. 10 lakhs | Rs. 180 | Rs. 990 |
| Slab 3(Above Rs. 10 lakhs) | Rs. 990 + 0.018% of the amount above Rs. 10 lakhs | Rs. 990 | Rs. 10,800 |
Different Options for Money Transfer to Australia from India
Banks
Banks have long been the traditional method for sending money from India to Australia.
| PROS | CONS |
| Wide Accessibility: Offered by most major banks in India | Higher Fees and Exchange Rate: Banks charge more than other options |
| Secure and Reliable: Regulated by RBI, enabling safe transactions | Longer Transfer Time: Takes 2-3 working days to process |
| Well-established Networks: Ensures money reaches securely worldwide | Exclusive for account holders: Not available for non-account holders |
| Lesser Documentation Needs: Banks have KYC documents of their account holders | Lack of dedicated service: Focus spread across multiple banking services other than outward remittance |
Money Transfer Companies
Unlike banks, money transfer companies specialise in international remittances through online and offline methods.
| PROS | CONS |
| Better Exchange Rates: More competitive than banks | Platform Fees: Extra charges for online transactions |
| Diverse Service Methods: Available both online and offline | High Charges: Markup and service fees are charged |
| No Bank Account Needed: Transfer without a bank account | Transfer Limits: Restrictions on the amount sent |
| Dedicated Service: Foreign fund transfer customers are their only consumers | Long Transfer Time: Often completed within 2-3 days |
Online Forex Aggregators
Online forex aggregators act as intermediaries, connecting customers with foreign exchange vendors and banks to facilitate international transfers. With the help of their tie-ups, they compare exchange rates in the market and fetch the best rate for customers.
| PROS | CONS |
| Best Exchange Rates: Most competitive rates after comparison | Limited Availability: Fewer platforms provide this service |
| Zero Transfer Fees: No service or transfer fees | Requires Bank/UPI Transfer: Must have a bank account for transactions |
| Available for all: Account holders of any bank can access the service | Less Physical Presence: Fewer in-person service locations |
| Faster Online Processing: Transfers get completed in 2 days anywhere in India | Longer Documentation: Requires KYC and purpose documents for first-time users |
How to Send Money from India to Australia
- Find the most suitable service provider by comparing the exchange rates, service charges, processing duration and complexity.
- Submit the necessary KYC documents and the bank details of the beneficiary in Australia to your chosen service provider for verification.
- Transfer the amount to the bank or remittance company using NEFT, RTGS, or online banking.
- Once the wire transfer is initiated, funds will be credited to the beneficiary’s bank account in Australia within 48 working hours.
Best Way to Transfer Money to Australia
ExTravelMoney offers a simple and affordable solution for sending money for any purpose to your dear ones, not only in Australia, but all around the world. Being a pan-Indian forex aggregator, ExTravelMoney offers:
- Convenience: Send money quickly from anywhere online
- Cheap Exchange Rates: Wholesale exchange rates with a maximum of 0.8% markup
- Zero Platform Fees: No service fee charged, apart from the processing fee charged by your chosen bank
- Forex Expert Guidance: Complete step-by-step assistance by experts on call and chat.
Now that you know how to send money to Australia, the next step is choosing the most cost-effective option. Try ExTravelMoney to compare live rates, reduce transfer costs, and complete your transfer with ease.
Also Read: 6 Hidden Fees When Sending Money Abroad You Miss Out and Tips to Save
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.
