- I am a share trader, and the account i am using is still in the home country (not in Australia). Is it ok?
- Do I need a ABN? If yes, will it affect the tax filing if I apply it during the tax year?
- My trading base currency is not AUD, how or what currency rate will be used to calculate my profit ?
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If the account you are using is overseas then the income is likely to be foreign sourced. (item 20 on tax return). All income needs to be converted to AUD at ATO foreign exchange rate at time of transaction. https://www.ato.gov.au/tax-rates-and-codes/foreign-exchange-rates-overview
An ABN is not required
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If the account you are using is overseas then the income is likely to be foreign sourced. (item 20 on tax return). All income needs to be converted to AUD at ATO foreign exchange rate at time of transaction. https://www.ato.gov.au/tax-rates-and-codes/foreign-exchange-rates-overview
An ABN is not required
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