QUOTE(Tony C @ Jun 9 2009, 04:33 AM)
Doesn't matter in what form, so long as the amount adds up to AUD10K or more, you have to declare it.
I don't think that is so. See below.
QUOTE(FINANCIAL TRANSACTION REPORTS ACT)
(1) Where:
(a) a person:
(i) transfers Australian currency or foreign currency out of Australia; or
(ii) transfers Australian currency or foreign currency into Australia; and
(b) the amount of currency involved in the transfer is not less than $10,000 in value; and
© a report in respect of the transfer has not been given in accordance with this section;
Where the definition of "currency" is:
QUOTE
"currency" means the coin and paper money of Australia or of a foreign country that:
(a) is designated as legal tender; and
(b) circulates as, and is customarily used and accepted as, a medium of exchange in the country of issue.
And where "money" is:
QUOTE
"paper money" means money comprising a note written, printed or otherwise made on paper or any other material.
A bank draft is essentially a cheque (that is guaranteed by the bank) and so is not paper money.