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Edited version of private advice
Authorisation Number: 1051751682991
Date of advice: 11 September 2020
Ruling
Subject: Capital gains tax
Question
Will any capital gain or loss you make on the disposal your shares be disregarded in accordance with section 855-10 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes. It is accepted that the gain that you have received from the disposal of your shares is not taxable in Australia as you are a temporary resident of Australia for taxation purposes and your shares are not taxable real property. For more information please see QC 18869 on our website ato.gov.au.
This ruling applies for the following period:
Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You are a temporary resident for taxation purposes in Australia on a Subclass 500 Student visa.
You purchased Australian listed shares.
In the XXXX financial year you sold some of your Australian listed shares.
The sale of the shares resulted in a gain of $XXXX.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 6-5
Income Tax Assessment Act 1997 section 104-10
Income Tax Assessment Act 1997 section 855-10
Income Tax Assessment Act 1997 section 855-15
Income Tax Assessment Act 1997 section 855-30