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Capital gains tax on International Shares

Discussion in 'Shares' started by RyanE, 30th Jun, 2009.

  1. RyanE

    RyanE New Member

    Joined:
    30th Jun, 2009
    Posts:
    1
    Location:
    Melbourne, VIC
    Hi, I am new to shares investing and was wondering if any of you can help me out with this or direct me to where I can find the answers. I have some trouble knowing who to pay tax to in the following scenarios.

    1. If I am an Australian resident with a Japanese broker buying American shares, and I make a profit from selling the American shares, who do I pay capital gains taxes to? To Australian government, Japan, or America?

    2. An Australian resident buying Australian shares via a broker in Japan. I make a profit from selling the Australian shares. Who do I pay taxes to?

    3. An Australian resident buying American shares via a local Australian broker. Who do I pay taxes to if I make a capital gain?

    Thank you for your help.

    Regads,
    Ryan
     
  2. Jenni

    Jenni Active Member

    Joined:
    27th May, 2009
    Posts:
    34
    Location:
    Brisbane, Qld
    As an Australian resident you must declare all income, from all sources on your Australian ITR. However, if you make a profit form investing in another country eg American shares you may have to lodge an ITR there too and then you should get a credit for any tax paid overseas.