Close Australian Brokerage After India Move
CommSec/SelfWealth ASX sell-down, CHESS statement, AU CGT, and AUD wire to NRE.
The 60-second version
Australian brokerage wind-down starts with CGT calculation on ASX/ETF holdings, then CHESS transfer or sell, broker closure letter, and AUD remittance to NRE with FEMA docs.
Sell before or after India landing — both work, tax differs
Australia taxes CGT on disposal — selling as non-resident may change withholding; obtain annual tax statement from broker.
CHESS-sponsored holdings need broker-initiated off-market transfer or on-market sell; keep contract notes for India Schedule FA cost basis.
Close CommSec / SelfWealth / Stake after zero balance; retain closure email for bank KYC.
Banking: close Australian bank guide. Super: DASP guide.
Broker wind-down options
| Path | Australia tax | India tax |
|---|---|---|
| Sell all ASX pre-move | CGT event in AU FY | Schedule FA; no CG until sold |
| Sell after ROR | AU non-resident rules | India CGT on sale + DTAA |
| Transfer to AU bank | No CG until sell | Declare holding in Schedule FA |
| Keep broker open | Annual AU statement | Ongoing Schedule FA + FBAR if US person |
| ETF/managed fund | AMIT tax statement | PFIC risk if US person |
Australian brokerage close sequence
Download holdings
CHESS statement + cost base from broker.
Sell or transfer
Market sell ASX/ETF; settle T+2.
CGT record
ATO myTax export or accountant letter.
Wire AUD
To NRE; keep Form A2 trail if repatriating.
Close account
Written request; confirm zero balance.
Wind-down flow
Australia broker export kit
- Contract notes.
- Annual tax statement.
- CHESS PDF.
- Closure email.
- SWIFT to NRE.
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Stake / US stocks via AU broker
US holdings need separate W-8BEN and may trigger US reporting even after broker close.
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0 of 4 checked
Keep CommSec as India resident?
Possible but Schedule FA + annual reporting burden — most returnees close.
CGT discount 50%?
Australian rule — India uses own holding period for 112A.
DASP vs brokerage?
Super is separate — see DASP article; do not mix with ASX shares.
Form 67 for AU CGT?
Yes if same income taxed in both countries in same FY.
US person FBAR?
Australian brokerage account counts if aggregate > USD 10k.
SMSFs?
Self-managed super is not brokerage — specialist exit path required.
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.