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CGT on Foreign Shares

Discussion in 'General Investing Discussion' started by HelloCraig, 20th Oct, 2009.

  1. HelloCraig

    HelloCraig New Member

    20th Oct, 2009
    Shanghai, China
    I'm Australian citizen but left Australia to work in Asia 10 years ago.

    While overseas I have invested in Chinese & Singaporean shares.

    Next year, I'm returning to Australia permanently. But I don't want to sell this portfolio. I want to maintain it online even when I'm living back in Australia and sell it later or when I retire.

    Does anyone have any idea of the CGT tax consequences of selling shares in Australia (when I'll be a tax resident) that were originally bought while I was a tax non-resident living in Asia?

    Thanks heaps.
  2. Rob G.

    Rob G. Well-Known Member

    6th Jun, 2007
    Melbourne, VIC
    Subject to any double tax agreement with your other/previous country of residence, you would usually be deemed to have acquired these shares at market value on the date you change residency.

    Its up to you to get specific advice on your particular circumstances. Small details matter a lot.


  3. newday

    newday New Member

    18th Oct, 2011
    CGT & dividend tax on Foreign Shares

    1. Similar situation - I just moved to Australia from HK. I am still keeping HK shares with the HK account. The problem is that there is no tax on shares trading in HK and I never keep these old records on the detailed prices & costs when I purchased them. There are also bits & pieces like the same stocks purchased and sold at different units at different times, causing difficulties in tracing the prices of different units. So what can I do when I report on CGT now when I sell these shares.

    2. When I receive the dividends from these HK shares, what exchange rates should I use for tax purpose?