Australian Tax Laws for Forex

[Dubai]

Hi all,

I realise this is a long shot but does anyone have any knowledge of the tax situation with Forex in Australia?

I am now living in Australia and about to gain my residency.

I will of course seek a tax advisors help in the near future but wanted a head start. I've done some googling but get so many different answers it's quite the headache!

 

[wyndy]

Hi

Having studied Australian tax law more extensively than i would have liked, I believe your gains will attract capital gains tax.

When you translate currency in australia, all gains will be taxable and all losses tax deductible.

For more details, check out the link below

http://www.ato.gov.au/individuals/content.asp?doc=/content/00191831.htm&page=24&H24

Hope that answers your question

 

[fxdan]

Maybe old post, but three words :

Discretionary Trust Fund