If you invest through Sharesies, we need to know if you’re an overseas tax resident.

It’s now easier than ever for people to invest money outside of the country they pay tax in. Australia is part of a global initiative called the Automatic Exchange of Information (AEOI), which is aimed at preventing offshore tax evasion.

According to the AEOI, all financial institutions (like banks, insurers, fund managers, and Sharesies) are legally required to collect, report, and exchange foreign tax and financial information about your account to the Australian Taxation Office (ATO).

  • Collect: we need to identify if you’re a tax resident of another country outside of Australia. If you are, we need to collect your tax identification number (TIN) and jurisdiction. If your circumstances change, we may follow up and ask you to confirm this information again.

  • Report: we must pass on the tax information you supply, in addition to financial information about your account, to the ATO if you are a foreign tax resident.

  • Exchange: we’ll always respect your data privacy and will only pass on your information to the ATO as required. The ATO may share this information with your home country or jurisdiction, if Australia has an AEOI exchange relationship with them.

Info about the AEOI on the ATO website

Email us at help@sharesies.com.au with any questions.

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