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Overseas trading
- Thread starter tbols
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i am no expert on this , but i suspect it might become terribly complicated , especially if she is talented and starts generating capital and dividend gains
ALSO some shares ( like QAN , for example , have regulations on how much of the company can be controlled by foreign nationals , so her trading via your account might create some minefields )
i would probably go looking for a couple of experts on this area ( say a full-service stock-broker and a person very skilled in tax law and accounting )
by the way
welcome to ASF
ALSO some shares ( like QAN , for example , have regulations on how much of the company can be controlled by foreign nationals , so her trading via your account might create some minefields )
i would probably go looking for a couple of experts on this area ( say a full-service stock-broker and a person very skilled in tax law and accounting )
by the way
welcome to ASF
Thankyou
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sorry i cannot be more helpful , but this could get very complex , including if you tried to transfer those shares to her overseas account later
cheers
cheers
Hi, no just trade in Australia, shares stay , money stays in Aus account, just wondering if it's legal for me to allow her to do it, thanks
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there will probably be some difficulties if the regulators discover it , for example Australia automatically tracks money transfers over a certain amount so they might notice foreign cash filtering into one of your accounts .. and they have money-laundering on their mind , so are liable to be suspicious quickly , after spotting the transfers ( the banks are SUPPOSED to detect and report first , but sometimes the regulators spot it first )
you probably need to consult a lawyer or at least a tax consultant maybe you can create a trust account that allows all this to happen , but that is well out of my skill range .
currently Australia seems to have a compulsion to create more rules on everything
take care , and don't cut corners
cheers
you probably need to consult a lawyer or at least a tax consultant maybe you can create a trust account that allows all this to happen , but that is well out of my skill range .
currently Australia seems to have a compulsion to create more rules on everything
take care , and don't cut corners
cheers