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SMSF, Information
flower
post Posted: Dec 26 2013, 06:22 PM
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In Reply To: mullokintyre's post @ Dec 26 2013, 04:05 PM

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I have purchased shares on Dow (as well as Canada and Europe) from Pershing via my full service broker at Ord Minett. These are in my SMSF. there is no impediment to purchasing overseas shares.mick


Mick, using a FSB ----do Ord's put any minimum size in $AUD terms on any trade you make?

What is their % rate per trade in and then out?

Do you take the ruling USD exchange rate at the exact time of trade and do Ord's clip that as well?

I want to use the Hong Kong market for China based companies and understand there are as of this moment several currency moves I have to make--ie AUD ---into USD--- into HKD--- and then into Remninbi, and then reverse that currency trade on any sale---which is discouraging.



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mullokintyre
post Posted: Dec 26 2013, 04:05 PM
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In Reply To: 7's post @ Dec 26 2013, 11:34 AM

I have purchased shares on Dow (as well as Canada and Europe) from Pershing via my full service broker at Ord Minett. These are in my SMSF. there is no impediment to purchasing overseas shares.mick




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flower
post Posted: Dec 26 2013, 01:08 PM
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In Reply To: 7's post @ Dec 26 2013, 12:56 PM

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Would you please be kind enough and advise in the following:

AA: If I open an account with a USA broker and transact shares, will I have to pay tax when I do sell?

BB: If I buy using Comsec I do believe I would not incur any USA tax.


Sorry, simply cannot answer that since I don't trade in foreign based shares per se, merely hold certain assets and receive asset dividends which are non taxable since am firmly in pension phase. SMSF itself may pay some minimal tax. Check with your fund's accountant.



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0007
post Posted: Dec 26 2013, 12:56 PM
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In Reply To: flower's post @ Dec 26 2013, 12:39 PM

Hello Flower, many thanks.
Would you please be kind enough and advise in the following:

AA: If I open an account with a USA broker and transact shares, will I have to pay tax when I do sell?

BB: If I buy using Comsec I do believe I would not incur any USA tax.

Is the above correct?
Many thanks
0007

 
flower
post Posted: Dec 26 2013, 12:39 PM
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In Reply To: henrietta's post @ Dec 26 2013, 11:47 AM

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I believe that overseas share investing is quite OK.


Can confirm that is quite in order. Just make sure whatever you buy allows you to remain compliant and will pass annual audit.






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henrietta
post Posted: Dec 26 2013, 11:47 AM
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In Reply To: 7's post @ Dec 26 2013, 11:34 AM

I believe that overseas share investing is quite OK. The funds do it, after all.

http://www.ato.gov.au/Super/Self-managed-s...on-investments/

As they say, no real restrictions, BUT, the investments must be solely for the retirement benefits of the members.

Cheers
J


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0007
post Posted: Dec 26 2013, 11:34 AM
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I manage my own super and I would like to buy shares in the Dow Jones from time to time.
Can anyone advise if trading overseas contravenes Superannuation rules.
Thank you
0007

 
 



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