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It is profitable to invest in overseas markets, not necessarily those stocks as recommended to US citizens. In any investment you have to undertake full research as to the 'value' of the stocks that you are buying and in doing so be fully aware that the ripples that effect any market effect the stock market and therefore stocks go up and down depending on the economic barometer. The exchange rate holds little fear providing that the exchanger does so when the exchangee is at a good price. The UAD is a little like some shares in that the ripples that effect shares also effect exchange rates. Patience.

Taxation issues are such that the dividends are taxed at source. These dividends are disclosed as gross assessible income and the foreign tax credits are taken into consideration.

Capital gains are not taxed. Losses cannot be taxed! Therefore it is up to the individual under the self assessment regime to disclose all gains and losses on share trading to the ATO at lodgement. Gains are taxed as assessible income and losses are accrued to be set off future capital gains.

Capital gains tax has now been reduced by 50% (Oct 1999), so do not be afraid to take profits!
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