Personal Finance & Money Asked by user42264 on May 18, 2021
Happy New Year to everyone
I am in a confusing state. Also reaching out to a few Tax Advisors. Not sure if someone in the forum has experienced this. I am an NRI (Indian) living in Australia on Work visa for past 1 year. I am planning to sell off my US Startup share at around considerable 6figures USD. Thinking – Should I pay LTCG in US or should I get paid in INR or in AUD ?
Anyone been in such a situation ?
As you are resident of AU, your ta liability will be in AU. You can claim credit for any LTCG paid / deducted in the US. There is no point involving INR in the transaction. This response is on an assumption that the respective currencies are mentioned as the bank account in such currency is maintained at respective countries and that your query is regarding optimizing the tax incidence.
Answered by Jayaprasad Ramakrishna on May 18, 2021
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