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International Investing / Australia (All-Ordinaries)


Subject:  Re: offshore Tax requirements Date:  2/3/2000  1:24 AM
Author:  demiller1 Number:  1080 of 6186

1: You are a non resident of Oz therefore you are taxed in the country that you are working - Japan. When you become an Oz resident again refer 3: & 4: below.

2: You can hold shares anywhere in the world it makes no difference as to what you hold and where.

3: Any dividends received by you are usually taxed at the source (i.e Oz or US or NZ or England) - as the resident country on the date that you receive these dividends you must declare as income and show tax paid and to whom.

4: Capital gains applies when received on any shares (asset) - this may apply in Japan [I do not know] but it applies in Oz so if you earn capital gains you must declare same and pay CGT. The CGT rate now halved in Oz.

On taxation returns there is a special section for income earnt ex Oz. Thsi is to be completed. Keep all records.

Note item 2: Some countries apply restrictions on the amount of money that you can move out of the country. Pity they cannot monitor international public companies listed of exchanges around the world. Defeats the purpose basically!

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