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I'm a share trader of US shares. Do I only pay tax in Australia?

Newbie

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Replies 2

Hi,

 

I have  been day trading US stocks. Is it correct that I will not be taxed in US, on profits I make on US share sales? And I will need to only declare profits on my Australian tax?

 

Any information regarding this would be very helpful. I have been reading the Master Tax Guide and online ATO service materials but I have not found a direct answer or I may have missed it. Links would be really helpful too.

 

1 ACCEPTED SOLUTION

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Most helpful response

Devotee

Replies 0

Hi @lastim33

 

Thanks for getting in touch! We can only help you find general information on Australian tax law - if you have questions about how tax works in the United States, it's probably best to either seek the services of a registered tax professional who specialises in international tax agreement or contact the Internal Revenue Service directly. 

 

Thanks. 

2 REPLIES 2

Taxicorn

Replies 0

Assuming that you are an Australian resident for tax purposes then all your income will be declared in australia and taxed in Australia.

 

Most helpful response

Devotee

Replies 0

Hi @lastim33

 

Thanks for getting in touch! We can only help you find general information on Australian tax law - if you have questions about how tax works in the United States, it's probably best to either seek the services of a registered tax professional who specialises in international tax agreement or contact the Internal Revenue Service directly. 

 

Thanks.