foreverhoping1

hi all,

I am in oz on a 457 visa. I have shares in the uk which i bought in the uk before coming out here. i came to oz in may of this yr

i have been lucky and have made a big paper profit on the shares. i was thinking of selling them but have since heard that i would have to pay tax on the profit here in oz. I pay the 30% tax rate so i believe i would pay that rate of tax on the profit i make?

I understand if i had permanent residency then it would be reasonable i pay tax on this profit, but is it also the case that i have to pay tax if im only a temporary resident? it seems wrong that i would be liable for capital gains made in the uk while in oz on a 457 visa.

also, assuming i had to pay tax in oz, wouldnt i be double taxed (both in oz and uk), assuming i was over the capital gains allowance of £8000 in the uk? that would really stink!!!

can anyone please help me on this issue? many thanks