Having an ARC here means that you can open a bank account and therefore trade stocks. However, the dodgyness (and lack of knowledge of local companies / adversion to technology companies) has prevented me from setting up an account so far.
I have much better knoweldge of the Australian Stock Market with the disadvantage being that I pay capital gains tax back home. As I will probably be declared a non-resident for tax purposes (due to the amount of time I am overseas) that means I don’t pay tax back home for assets/income overseas. But I will still have to pay tax on assets owned within Australia (at a higher marginal rate too).
Therefore I am investigating the possibility of opening an overseas stock account in Taiwan and buying my Australian stocks locally. So a number of questions come to mind:
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- What impact would this have on my tax obligations? [/b]
I would imagine that I would still be on the registar in Australia as owing x shares in the company, but nothing would show up on bank accounts. Or:
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2) Are the shares registered in the name of the Taiwanese holding company?
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Is this now considered an offshore asset?
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Can I avoid paying capital gains this way?
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How do Taiwanese stock brokers avoid paying capital gains in Australia?
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Can someone provide some clues as to what I can expect!
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Also, what happens when the ARC expires? [/b]
Thanks to those who can answer these questions