I’m an expat with shares and property. What are my tax obligations?

Dear Ms Wise, I have lived overseas since June 2023. I make money trading options on my CommSec trading account. I also have a small amount of income from other investments, shares and a rented property in Australia. Previously I have added my trading income to my other income and paid tax. I have no plans to return to Australia for some time.

But this is only so long as the trading platform you are using has noted you are a non-resident and retains your foreign contact details on file. “Therefore, when you sell the property, capital growth accumulated while you were overseas is ultimately taxed at marginal rates of between 32.5 per cent and 45 per cent, as will your net rental income,” he says.

“Your Australian asset allocation makes a big difference in determining your eventual taxes on income and capital gains while you’re living overseas, and will ultimately have a significant impact on your after-tax investment return,” he says.

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