I am planning to invest in some ETFs domiciled in in the USA and Japan through my Australia-based brokerage platform. I do this because of my views on forex over the coming years.
I read this article: https://www.ato.gov.au/forms-and-instructions/foreign-income-tax-offset-rules-guide-2021
US domiciled Equities:
I have filled a W8-BEN Form via my brokerage platform. My understanding is any income generated via US equities (e.g., dividends) will be automatically reported to ATO and be reflected in my Tax Return with appropriate tax offset rules applied.
1) Please confirm if this is the case.
JAPAN domiciled Equities:
Even though there is a tax treaty between Australia and Japan, it appears Japan does not report tax withheld directly to ATO. So, I understand I am required to keep detailed records if I plan to claim a tax offset (to avoid double taxation).
2) Please advise if my understanding is accurate.
Capital Gains:
I understand capital gains must be reported similar to any other capital gains scenarios in Australia with forex rates considered as applicable on the day of trade.
3) Please confirm
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