We’re doing scheduled maintenance on ATO Community to bring you a bigger, better and brighter online community. You may see us go into read-only mode over the weekend while we do this. Don’t worry! You’ll still be able to search the site to find your answers.
I've held foreign shares for almost 10 years before finally selling them in January 2020 for a profit.
Assuming my profit was $1000 after converting to AUD, what is the amount I should declare in my tax return? The entire amount or since they are long term capital gains (held more than 12 months), as per ATO guidelines only 50% i.e. 500?
I searched for clarification elsewhere on the forum but did not find a definite answer to whether capital gains domestic or foreign are treated equally.
I look forward to your help & guidance in this regard.