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Re: Foreign capital gain for a temporary resident but an Australian resident for tax purposes.

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Do I have to pay tax in Australia for my Capital Gain on foreign shares?

I made capital gain on shares from the US market through Australian platform (Stake). I already supplied TFN and filled the US Tax Form (W-8BEN). I am an Australian resident for tax purposes currently, however I am not an Australian citizen but rather a temporary resident. I read from ATO website about ‘Foreign income exemption for temporary residents’ and it mentions that “If a capital gains tax event occurs while you are a temporary resident, you are not liable to capital gains tax (nor treated as having made a capital loss) unless the asset is 'taxable Australian property’.” Can someone shed some light on this please?

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ATO Community Support

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Hi @hey1234,

 

We have answered a similar post on our website, you can view our response here.

 

If you have further questions please let us know.

 

All the best.

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Most helpful response

ATO Certified Response

ATO Community Support

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Hi @hey1234,

 

We have answered a similar post on our website, you can view our response here.

 

If you have further questions please let us know.

 

All the best.