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International Investing / Australia (All-Ordinaries)

URL:  https://boards.fool.com/hi-demiller1-thanks-for-the-very-prompt-reply-non-12491279.aspx

Subject:  Re: Tax changes after July 1st? Date:  4/29/2000  11:57 PM
Author:  applefoot Number:  1400 of 6186

Hi demiller1

Thanks for the very prompt reply.

Non Residents are liable for capital gains only if a CGT asset has a connection with Australia (which includes shareholding of a public listed company which is 10% or more of the issued capital).

The particular company I have shares in (Novogen) pays no dividends therefore no problem there I assume. Also I own substantially less than 10% of the issued capital, again no problem. However still a little confused. What is meant by "only if a CGT (capital gains tax?) asset has a connection with Australia"?

Putting it another way do you mean (which does NOT include shareholding of a public listed company which is 9.99% or LESS of the issued capital)?

To this simple soul, the asset or share, of any Australian company has a connection with Australia by definition...... or am I just being particularly thickheaded today? (wouldn't be the first time). Maybe you meant "asset HOLDER"?

Thanks again for all your efforts, much appreciated,

applefoot

P.S.
(apologies for ommitting the 1 in your handle, last post)
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