Tax obligations for UK Stocks and Shares
 

Hi All,

I am British citizen moving to Sydney in April on a 457 visa and would like to understand how my tax situation will change with regards to investments, mainly UK stocks and shares.

Presuming the following:

If I buy and sell within my self select ISA I have no tax obligations unless I liquidate my ISA. What happens then? I understand I must pay CGT within the UK on profits, but do I also pay tax in Australia?

What about normal stock investments outside the ISA wrapper. Must I declare any profit/Loss?

Thanks in advance

Re: Tax obligations for UK Stocks and Shares
 

Your worldwide income is not subject to tax in Australia whilst you are on a 457 visa, it is a concession to these visa holders as you are of course deemed "tax resident" in every other sense.

Your UK investments would continue to be subject to tax in UK. My understanding, which might be imperfect, is that whilst you can leave your ISA alone, you cannot transact in it. You cannot add to it and selling shares is liquifiying investments, those you sold...