Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
>Are you asking about the US taxing the gains or
>dividends or Australia taxing the gains or dividends.

>As I understand it as an Australian citizen you
>declare any overseas income, tax paid and capital
>gain on your tax return. You are then taxed on it as
>per Australian marginal rates.

I am asking about US taxing the gains and dividends. My current understanding is that if you do not submit the service agreement to Suretrade (I imagine it is the same sort of agreement with Datek), then you are taxed 31% on all sales of shares - which is of course absurd and you can't trade in this manner. But when you submit the standard service agreement form, then you are taxed absolutely nothing on the sales of shares (what we call capital gains tax), and when you sell asll shares and ask for a cheque from Suretrade, they give you a big (untaxed) cheque and it is then up to you (as an Australian) to have capital gains removed under Australian law.

Does everyone agree with this?

Regards
Manlobbi
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.