Caveman

I've concluded from reading previous posts on ISAs thet they're not considered tax-free by the ATO once you become a resident for tax purposes. My question is regarding equity ISAs. Given that they are based on shares and could go up or down, am I obliged to declare their value each year and pay tax on the increase? I'm thinking that I don't make any profit until I cash them in. Any thoughts?

Grayling

Yes....you do have to declare them. The annual growth is considered as part of your income by the ATO.

There are ways to minimise the tax....best consult a professional.

G

lesleys

If they pay a dividend then that's income and must be declared. Otherwise, I think, you are liable for capital gains tax when you sell the equities. See an expert