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Junior Member
Australian shares and CGT
I lived in Aussie for several years before coming back here permanently a few years ago. While there I bought a few Aussie shares but didn't sell any. Now I've received an offer from a existing major shareholder of Leighton Holdings Ltd that want to buy 37.5% of my shares.
My question relates to Australian CGT that I might be liable for. In the bidding document it states that shareholders currently living in Australia are liable for CGT if they sell the shares but it says that non Australian residents (i.e. me) who bought the shares while living in Australia may still be liable for CGT and should seek professional advise.
Anyone here know if I should be paying CGT to the Australian tax dept if I sell the shares or what the rules are concerning selling Aussie shares by a (now) non-resident?
Thanks for any replies.
Tim
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As usual - it depends upon lots of things
Originally Posted by tims
I lived in Aussie for several years before coming back here permanently a few years ago. While there I bought a few Aussie shares but didn't sell any. Now I've received an offer from a existing major shareholder of Leighton Holdings Ltd that want to buy 37.5% of my shares.
My question relates to Australian CGT that I might be liable for. In the bidding document it states that shareholders currently living in Australia are liable for CGT if they sell the shares but it says that non Australian residents (i.e. me) who bought the shares while living in Australia may still be liable for CGT and should seek professional advise.
Anyone here know if I should be paying CGT to the Australian tax dept if I sell the shares or what the rules are concerning selling Aussie shares by a (now) non-resident?
Thanks for any replies.
Tim
This might help, or it might not.
Best Wishes
Paper Tiger
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Junior Member
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Would have to agree with KW, you are not a resident, have not been since early 2006 - 8 years ago, can't see how would it apply you.
The major shareholder is probably just covering their bases.
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Junior Member
Hello there,
I have a further query on this subject
As a New Zealander that has been living in Australia (West Island) for 2.5 years with both stock investments on the NZX and ASX do I have to pay capital gains tax on sold stocks in ASX and NZX, or do i pay CGT on Australia stocks and consider NZX investments separately?
Cheers
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Originally Posted by nicknz125
Hello there,
I have a further query on this subject
As a New Zealander that has been living in Australia (West Island) for 2.5 years with both stock investments on the NZX and ASX do I have to pay capital gains tax on sold stocks in ASX and NZX, or do i pay CGT on Australia stocks and consider NZX investments separately?
Cheers
I would guess that as an Australian resident you have to pay CGT on all your investments. The ATO website should give you that information.
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Junior Member
Originally Posted by 777
I would guess that as an Australian resident you have to pay CGT on all your investments. The ATO website should give you that information.
Yea as Australian Resident for tax purposes CGT is paid on all Australian Investments, just not sure how it works with NZX investments.
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Originally Posted by nicknz125
Yea as Australian Resident for tax purposes CGT is paid on all Australian Investments, just not sure how it works with NZX investments.
Who would invest in Australia then if you could invest offshore and not be liable to CGT?
As I said The ATO site will give you the information.
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