Trading Transferring shares to offshore brokerage query

Discussion in 'Share Investing Strategies, Theories & Education' started by Sick_of_scams, 5th May, 2021.

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  1. Sick_of_scams

    Sick_of_scams Well-Known Member

    Joined:
    31st Mar, 2018
    Posts:
    121
    Location:
    Gold Coast
    Hello forum readers and contributors.

    This is a second post seeking a specific query to add to my first post titled
    'Offshore brokerage in Singapore for Australian expat'

    I would like to know if there are any Australian tax implications for transferring my share holdings that are held in CHESS with Australian brokers to an offshore international brokerage such as in Singapore, where that brokerage becomes the custodial of my shares?

    Since the share holdings would enter a different jurisdiction (under Singapore laws) then capital gains (nil tax in Singapore) and dividend income would be recorded there.

    I am going off another website expat forum with posters in the thread claiming it can be done. I am not sure if Australian laws allow it? And if there is a tax or fees for doing this?

    Hopefully someone in this forum knows of this.

    Thanks in advance.
     
    Sick_of_scams, 5th May, 2021
    #1
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