My dad has a mutual fund in Australia although he lives overseas.
I just noticed in his statement that the ATO has taken out Witholding tax about 50% from the 'distributions' to his Cash Fund. Can he claim back the full amount from the ATO? I guess that means he needs to fill in a tax return?
Also, how about CGT? I read in some articles that non-residents do not need to pay CGT for Australian shares.
Can someone help?
thanks
I just noticed in his statement that the ATO has taken out Witholding tax about 50% from the 'distributions' to his Cash Fund. Can he claim back the full amount from the ATO? I guess that means he needs to fill in a tax return?
Also, how about CGT? I read in some articles that non-residents do not need to pay CGT for Australian shares.
Can someone help?
thanks