Overseas trading

[tbols]

Hi, can my sister in law from overseas trade using my account in Australia, I'm an Australian resident

 

[divs4ever]

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

 

[tbols]

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

Thankyou

 

[divs4ever]

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

 

[tbols]

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

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

 

[divs4ever]

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