Guest livejazz Posted August 24, 2009 Share Posted August 24, 2009 Say you have a portfolio of - foreign shares, canadian, singapore..etc, all over the world. - assets in the UK, rentals - gold/silver bullion - also hold different currencies as cash - plus do online trading frequently, margin. I am interested in learning about oz tax, so my thinking so far is... - rental income and capital gains charged to oz...based on valuation at date or PR activation. otherwise pay CGT to uk...when you sell? - owning foreign shares is a nightmare under the current rules, but those rules are being repealed (last 2009 budget but i have no details), so I assume I can still hold these shares and only pay tax on sales and dividends. The idea now is I pay CGT on these quarterly even if i dont sell them. crazy! no wonder they repealed this. - the CGT tax is great if you hold assets more than 1 year, 50% redemption, so assuming a tax of 40%, then its 20% you pay, same as UK BUT, in the UK you dont need to hold for 1 year! so oz is frankly worse if you are holding investments short term. - gold, silver, i assume there is no GST to pay, and it is simply a normal asset..let me know. is there an issue if gold is held outside country. - being a trader, does this help you tax situation, should I try to get this thru? i would be interested to know. I assume being a trader means all profits treated as income not CGT. so probably makes no difference! - holding different currencies, now here is the tricky one, i think i pay CGT on these currencies...which is absurd! not fair, it is cash! my risk. can someone agree with this? uk of course does not charge CGT. Link to comment Share on other sites More sharing options...
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