Australian (ASX) Stock Market Forum

tax

  1. I

    Tax accounting implications

    Hi all, It's been a while since I actively traded. I spent a long time studying before jumping in and once I did I ended up spending more on my accountant that was worth my time and effort. Obviously if I had profited more then the accounting costs wouldn't have been an issue but sometimes you...
  2. S

    Using line of credit to invest in shares: tax question

    I'm looking at using leveraging for investment. I've decided that I will take out a line of credit as a separate loan against my home, the idea is to put the money into my current portfolio of ETFS and LICS. Currently my dividends are completely reinvested through DRIP. Option one: Keep...
  3. A

    Interactive Brokers - annual tax trust distributions details

    Hi, ASX listed trusts provide annual tax statements relating to distributions and taxable components for shareholders. However with Interactive Brokers, IB acts as a custodian so the actual customer does not receive these annual tax statements. How do other IB customers deal with this...
  4. A

    IB Share Trader Taxation

    Hi All, Hoping I can get some help regarding taxation as a Share Trader ("trading as a business") using Interactive Brokers (IB). Specifically which categories of IB reports to use to do a tax return. On the surface, there appear to be a number of options: 1) The Net Asset value summary...
  5. H

    Taxation for US ETF, ASX Global ETF, and Australian ETF

    Hi, since I'm new to investment in stocks/ETFs, I keep reading many posts around how ETFs and stocks are being taxed. However, for a reason, I got confused, especially with the difference between taxation of Australian ETF, US ETF (i.e. traded via Stake app), or Global ETF i.e. Vanguard Global...
  6. Frankieplus

    Dividend Payments/Tax

    Greetings.. I think I know the answer to this but I'll ask anyway. If I get a dividend payment into my -investment platform- cash account, do they get added to my yearly income and therefore I need to pay tax on them? Or is it a case that these dividends only qualify as income once they...
  7. Iggy_Pop

    Retirees Tax

  8. john5

    Tax question re: foreign income

    hi all, just a question on a specific type of foreign income, i own a few domain names, and have them "parked" on a us-based parking platform, the platform collects parking revenue for me, in usd, and generates reports which enable me to see what im earning, even daily ... sometimes it's only...
  9. S

    Melbourne tax accountant for active traders - seeking recommendations

    Hi; Seeking personal recommendations for a tax accountant specialising doing ATO tax returns for Australian & Overseas Trading of Equities, Futures, FX, CFD's Etc. in Melbourne. Cheers and thanks in advance!
  10. SirRumpole

    Tax Evasion

    One wonders how much of this sort of thing is going on. http://www.abc.net.au/news/2018-06-28/phil-whiteman-summons-alleged-tax-evasion-scheme/9916788
  11. Lithium

    A simple question on DRP & Tax

    This will probably be a simple one (excuse my ignorance) but I can't find the answer. Say I have $10k invested in VAS. I have elected full participation (DRP) as my reinvestment option. How does this impact my taxable income annually? Reason why I ask is I see many long term ETF investment...
  12. B

    US corporate tax change

    Hi all, Im wondering what your thougths are regarding the tax changes in the US in terms if how the market will respond when companies bring forth losses from the past. Apparently corporations have upto 15 years in which to bring forth said losses. Now that there is a major differential in the...
  13. Revan

    Tax implications for CFDs?

    Anyone trading CFD's in Australia for "business purposes" do you just pay regular income tax in the business section of your tax form? what business expenses are tax refundable..? Spreads? Commissions? Data subscription? Trading software? Laptop? Internet connection? Do you declare your losses...
  14. 8

    Tax - managed fund vs. ETFs

    Hi all first year with Vanguard managed fund and I had to pay additional tax on my earnings. If I had the equivalent ETF. Would I need to tax for the earnings of unsold etfs?
  15. R

    How do investors here deal with tax issues?

    Hi I was just wondering how do people deal with tax on profits when they sell shares?? I began buying stocks from last September and I now want to rotate into cheaper stocks, but I'll incur a huge tax bill if I sell (more than 35%, tax is more than my day job wages for the whole year), so I'm...
  16. M

    SMSF Accountant/Treatment of Futures in Tax

    Hello 2 separate topics but some how related 1) I m searching for an budget ( under $1000 including audit) SMSF accountant for a small SMSF, I know there are few around but many of them restrict what broker you use! I need somebody who will allow Interactive Brokers, Also the accountant need...
  17. N

    Buy VTS on the ASX or buy the underlying ETF?

    Howdy, I'm wondering whether to buy VTS on the ASX or buy the underlying ETF, which is VTI (NYSE Arca)? The average volume traded for VTS is around 10k. For VTI it's around 1 million. From a liquidity point of view, maybe VTI would be superior? Apart from liquidity, there's tax. Any ideas?
  18. A

    Tax on franked dividends...

    Hi All, I have a question about franking credits. I understand that all dividends will count as income and will add to my taxable income by the grossed up dividend amount? and then I will get a tax credit for the franking credits.. right now I am working buts just as an example say in the...
  19. T

    CGT and Personal Income Tax

    Guys, I have been out of the country for couple of years and only returned earlier this financial year. Some of the shares I bought back around 2010 significantly appreciated in value and I am sitting on large paper profits. I want to sell and realise the profits but before doing so I am...
  20. D

    Non-resident Tax on International Market ETFs?

    Hi, Does anyone have any experience with non-resident tax liable on International Funds or ETFs that are listed on the ASX? If it is listed on the ASX is it automatically classed as Australian Sourced Income? I work as a expat, so have been non-resident for tax purposes for several...
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