The current tax laws mean we must collect information about your tax residency when you open a Stockspot account. If your circumstances change, you need to let us know.
We report certain details to the Australian Taxation Office (ATO). The ATO may share that information with international tax authorities, as part of a global effort to reduce tax evasion.
Australia is part of the Automatic Exchange of Information (AEOI), an international agreement which allows for the exchange of tax information with other countries.
AEOI is made up of the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA), for the United States.
These frameworks require financial institutions, including Stockspot to collect information about your tax residency and report it to the ATO. The ATO may then pass this on to tax authorities in other countries.
CRS and FATCA are designed to make sure everyone pays the right amount of tax, and reduce the risk of tax being hidden in overseas accounts.
When you open a Stockspot account, we'll ask you:
If your circumstances change and this affects your tax residency previously disclosed to us, you'll need to update your details in your Stockspot dashboard or contact our team.
We may also contact you at any time to confirm or update your tax residency information. If we do, we'll ask you to complete a Tax Residency Self-Certification Form.
| Client type | How to submit | Required forms |
|---|---|---|
| Individual - Foreign tax resident | Stockspot dashboard or contact our client care team | Individual Tax Residency Self-Certification form |
What is a tax resident?
Each country has its own rules to define tax residency. It usually depends on where you live or spend most of your time. Some people may be tax residents in more than one country.
If you're unsure about your tax residency, we recommend you speak with a registered tax agent. Stockspot can't provide tax advice.
What is a Tax Identification Number (TIN)?
A TIN is a number issued to you by a country for tax purposes. Some countries call it something else, like a National Insurance Number or Social Security Number.
If you're a tax resident of another country, you may need to provide your TIN when signing up.
What if I'm a US citizen or tax resident?
If you're a US citizen or tax resident, you'll need to provide your US TIN. This could be:
Former US citizens may also have reporting requirements. You can visit the IRS FATCA FAQ or Relief Procedures for Former Citizens to learn more.
Can I join Stockspot as a foreign organisation?
We only onboard Australian entities, trusts and companies.
What if I don't have a TIN?
If you're a tax resident outside Australia and don't have a TIN or if your country does not issue TINs or you are not legally required to obtain one, you'll need to give us a reason code:
What if I already have an account?
If you already have a Stockspot account, we may still contact you to confirm your tax residency if this information is missing or unclear. You may also be asked again when opening a new account or product.
What happens to my personal information?
We take your privacy seriously. Any tax information we collect is handled securely and only used to meet our legal obligations. You can read more in our Privacy Statement.
Need help?
If you're not sure what to declare, we recommend speaking to a registered tax agent. Stockspot can't give tax advice.