Private ruling: Capital gains tax
Date of advice: 11 September 2020
Published: October 2020
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: 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)? | A1: 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.

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