CGT deducted in which country and at what rate. What US documentation to submit prior to sale of shares.
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There are a few things to consider, @Chooky88.
Are you a tax resident of Australia (probably so given you're asking on this forum)? If so, foreign shares are no different to ASX ones, capital gains go in the same place, you can still reduce gains by 50% if you've held the asset for 12 months, etc. Use the RBA (Reserve Bank) exchange rates for the dates of purchase and sale, and if taxes were withheld in the US, e.g. because you completed a W-8BEN form, then they can be added to your return too.
If you live in Australia but also have US tax obligations, i.e. you're a US citizen or green card holder, then you complete the ATO return first and any necessary IRS return will follow. Be aware of any differences, e.g. the 50% discount won't apply.
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There are a few things to consider, @Chooky88.
Are you a tax resident of Australia (probably so given you're asking on this forum)? If so, foreign shares are no different to ASX ones, capital gains go in the same place, you can still reduce gains by 50% if you've held the asset for 12 months, etc. Use the RBA (Reserve Bank) exchange rates for the dates of purchase and sale, and if taxes were withheld in the US, e.g. because you completed a W-8BEN form, then they can be added to your return too.
If you live in Australia but also have US tax obligations, i.e. you're a US citizen or green card holder, then you complete the ATO return first and any necessary IRS return will follow. Be aware of any differences, e.g. the 50% discount won't apply.
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