Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

shares, gains & tax

shares, gains & tax

Old Oct 10th 2007, 11:24 am
  #1  
no longer searching
Thread Starter
 
walaj's Avatar
 
Joined: Sep 2002
Posts: 2,030
walaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond repute
Question shares, gains & tax

If we have shares in a UK company bought before we became tax residents in Oz, and then sold after becoming a tax resident in Oz, what is the basic gain?
Say, bought for 100p, were 80p when became Oz tax resident, & sold for 125p

Would the gain be 25p or 45p?

I've had a look on ATO site, but not found the answer - if you can point me to the right page that would be very helpful
walaj is offline  
Old Oct 10th 2007, 11:38 am
  #2  
Forum Regular
 
Joined: Oct 2006
Location: Bull Creek
Posts: 164
BullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud of
Default Re: shares, gains & tax

Originally Posted by walaj View Post
If we have shares in a UK company bought before we became tax residents in Oz, and then sold after becoming a tax resident in Oz, what is the basic gain?
Say, bought for 100p, were 80p when became Oz tax resident, & sold for 125p

Would the gain be 25p or 45p?

I've had a look on ATO site, but not found the answer - if you can point me to the right page that would be very helpful
45p
BullcreekBob is offline  
Old Oct 10th 2007, 11:40 am
  #3  
no longer searching
Thread Starter
 
walaj's Avatar
 
Joined: Sep 2002
Posts: 2,030
walaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond repute
Default Re: shares, gains & tax

Originally Posted by BullcreekBob View Post
45p
is that based on experience, knowledge or you like delivering bad news
walaj is offline  
Old Oct 10th 2007, 12:14 pm
  #4  
BE Enthusiast
 
Jacqui's Avatar
 
Joined: Nov 2001
Location: Mandurah, WA
Posts: 886
Jacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond reputeJacqui has a reputation beyond repute
Default Re: shares, gains & tax

You have to take the share price from the date you became a resident of oz, bummer eh?

Last edited by Jacqui; Oct 10th 2007 at 12:17 pm.
Jacqui is offline  
Old Oct 10th 2007, 12:25 pm
  #5  
Forum Regular
 
Joined: Sep 2007
Location: cambridgrshire
Posts: 94
PIPPADEE will become famous soon enoughPIPPADEE will become famous soon enough
Default Re: shares, gains & tax

Originally Posted by Jacqui View Post
You have to take the share price from the date you became a resident of oz, bummer eh?
Does anyone know about inheritance tax. I know that oz does not have a tax on inheritance , my father died in Jan and we still do not have probate.
If we get are visas (hopefully Jan 2008) and we still dont have probate , will we be taxed on the money when we transfer it to OZ .Any advise would be great !!

PIPPADEE is offline  
Old Oct 11th 2007, 3:26 am
  #6  
JAJ
Retired
 
JAJ's Avatar
 
Joined: Apr 2004
Posts: 34,649
JAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond repute
Default Re: shares, gains & tax

Originally Posted by PIPPADEE View Post
Does anyone know about inheritance tax. I know that oz does not have a tax on inheritance , my father died in Jan and we still do not have probate.
If we get are visas (hopefully Jan 2008) and we still dont have probate , will we be taxed on the money when we transfer it to OZ .Any advise would be great !!
U.K. Inheritance tax is levied on the estate not the recipient.

Australia does not have an inheritance tax but you should research carefully what the base cost will be for capital gains tax purposes should you subsequently dispose of assets acquired by inheritance.
JAJ is offline  
Old Oct 11th 2007, 9:22 am
  #7  
no longer searching
Thread Starter
 
walaj's Avatar
 
Joined: Sep 2002
Posts: 2,030
walaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond reputewalaj has a reputation beyond repute
Default Re: shares, gains & tax

Originally Posted by Jacqui View Post
You have to take the share price from the date you became a resident of oz, bummer eh?
so is this based on experience or knowledge? link to ATO?

On that basis if bought at 80p, 100p when become a Oz tax resident, and sell at 125p you would have gain of 25p. Meaning that (assuming you don't return back to UK within the relevant years), you would never be taxed on the other 20p gain?
walaj is offline  
Old Oct 12th 2007, 3:38 am
  #8  
Forum Regular
 
Joined: Oct 2006
Location: Bull Creek
Posts: 164
BullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud ofBullcreekBob has much to be proud of
Default Re: shares, gains & tax

Originally Posted by walaj View Post
so is this based on experience or knowledge? link to ATO?

On that basis if bought at 80p, 100p when become a Oz tax resident, and sell at 125p you would have gain of 25p. Meaning that (assuming you don't return back to UK within the relevant years), you would never be taxed on the other 20p gain?
G'day

Indeed you've made 20p with loss to tax. Even better is ...

Buy investment property for 50K, hold for many years, property worth 200K when you emigrate, sell 2 years later for 210K and pay capital gains tax on only 10K
BullcreekBob is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.