Tax enquiry

[Cobra]

Hi,
I have 40000 dollars worth of shares invested in an Austrialian company. They dont pay dividents. I am resident in Ireland.
My question is will i have to pay withholding tax in Aus. when i buy back or will i pay the revelent tax in here in ireland and is there any other taxes i will have to pay in Aus . Have been a long time trying to find out the answer to this question. Mayby someone out there may be able to help.
thanks Tom.

 

[ClubMan]

Re: Tax enquirey



Moved from Savings and Investments.

Also:

 

[ClubMan]

Re: Tax enquirey

My question is will i have to pay withholding tax in Aus. when i buy back

What do you mean by "buy back"? What do you think that witholding tax will apply to?

You probably need professional advice from somebody with knowledge of the tax codes in Ireland and Australia and about any double taxation agreement that may exist between the two countries.

 

[gobig]

Re: Tax enquirey

Hi Tomjen
We have an office in Sydney. If you tell me exactly what you are looking to do I'll get someone to look into it for you

 

[Cobra]

Hi gobig,
When i cash the shares, will i have to pay any withholding tax to Aus. or any duty etc. or will all the taxes be paid in Ireland.
Tomjen.thankyou

 

[ClubMan]

By "cash" do you mean "sell"? If so then any gain will presumably be assessable for CGT in Ireland (assuming that you normally pay tax in Ireland). There may or may not be additional Australian tax issues that may or may qualify for a tax credit in Ireland. As I said above you probably need professional advice with this.