akiralx Posted June 15, 2017 Share Posted June 15, 2017 (edited) I have a reasonably sized (maybe 6 figures in Aus$) share portfolio invested with a UK company, this was inherited from my father in 2008 (inheritance tax was paid). I have not received any income from this, but when in the future I realise this asset and bring the proceeds to Australia will that money be taxable? Edited June 15, 2017 by akiralx Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted June 15, 2017 Share Posted June 15, 2017 It is probable a capital gains tax computation will be required - prepared under Australian tax law - in respect of the sale of each share holding. Best regards. 1 Quote Link to comment Share on other sites More sharing options...
Collie Posted June 15, 2017 Share Posted June 15, 2017 My understanding is that: If you are Australian resident for tax purposes, you are liabile for tax on your worldwide income (or capital gains in this case) in Australia. If tax is withheld/paid in the source country and there is a double taxation agreement in place (UK & Australia do have one), you will receive a credit for that paid tax. ie you won't be hit twice. Quote Link to comment Share on other sites More sharing options...
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