Hello,
Once Freetrade will be available in Europe, and I take the example of France as per my interest, will users like me be able to move their UK account to the French’s?
Do you reckon this option will be implemented?
Thanks,
Antonio
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If you move there, I really hope this will be possible. Or what’s the motivation behind the question?
Degiro UK confirmed that they can do this via an internal transfer of one Degiro account to a newly created Degiro account in the other country. There was a small transfer cost per position.
This means I wouldn’t need to sell my positions, i.e. no realised capital gains during the transfer. This is currently my main concern with building big positions in Freetrade, knowing that there’s a possibility of having to forcibly sell/close account when moving countries.
I’m hoping that Freetrade will offer the same internal transfer for my GIA and will also enable keeping my ISA positions on the UK account.
Also hoping that Freetrade chooses to rollout the same basic product in every EU(R) country, and later iterations take care of country-specific taxes.
E.g. some Dutch brokers allow Belgian users to open a Dutch account, users would then declare this foreign account and pay the necessary taxes themselves instead of the broker withholding them at source. That’s probably to quickest route for me to a Belgian Freetrade account 
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Those are my concerns as well. As it may be possible I move across EU, it’s a big dilemma whether I would be able to transfer my positions within Freetrade.
I hope they can work on this option like Degiro.
That’s exactly the reason behind it.
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I’m not sure if this law exists in the UK, but when you leave Australia (technically, when you stop being a “resident for tax purposes”), that triggers a capital gain/loss event on all your holdings. Basically its as though you sold and immediately bought them for the same price.
But yeah, might not exist here, but worth checking.
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How does it work with unrealised gains on stakes in private companies, if you happen to know?
Not sure, it just says market value:
https://www.ato.gov.au/General/Capital-gains-tax/Selling-an-asset-and-other-CGT-events/Types-of-CGT-events/#CessationofresidencyI
Of course, there’s a whole page on what market value means:
https://www.ato.gov.au/general/capital-gains-tax/in-detail/market-valuations/market-valuation-for-tax-purposes/?page=8
And this specific thing about an auditor assigning a value:
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Hey Zac, thanks for pointing that out! I am just about to go through the Government home pages where these things are actually listed (I had completely overlooked it!).
For those interested:
Yet, the main question remains, I wonder whether the transfers of shares would be an option in the near future!
I hope to see some dates on the road-map and maybe some more details from the FreeTrade Team.
Still a valid feature request I think. You could at least save FX and maybe other fees/taxes by not selling/buying.