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Go Matilda - Your Gateway to Australia The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum CFDs and FIF rules
The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum CFDs and FIF rules|
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Member |
Hi,
Anyone know what the position is on holding CFDs and the FIF rules, i noted from a document http://www.comsec.com.au/Shared/PDF/OTCPDS.pdf Section 6.1.7 (page 40): "Entering into the OTC CFD does not mean that you have an interest in the underlying securities. Further, it does not provide an entitlement to acquire the underlying securities. Therefore, investors should not be affected by the FIF rules as they do not own any offshore securities or hold an entitlement to acquire them" any thoughts? |
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Member |
Beyond the scope of a discussion forum, methinks ...
Best regards. Alan Collett alan-at-gomatilda-dot-com Registered Migration Agent Number 0102534 Fellow of the Institute of Chartered Accountants in England and Wales Member of the Institute of Chartered Accountants in Australia http://www.gomatilda.com and http://www.collettandco.co.uk Offices in Southampton - England; Melbourne, Perth, Brisbane, and Geelong - Australia |
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Member |
A FIF is a foreign company or a foreign trust and as such a CFD would not appear to fall into assessment under the FIF rules. However, the rules governing CFDs are complex see
http://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR200515/NAT/ATO/00001 Well you did ask!! |
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