do i pay us tax on us profits, page-6

Thanks everyone for your thoughtful replies.

This is what I understand so far from conversations with the ATO:

As a non-resident of Australia I still pay tax on profits generated in Australia IF I live in a country without a double-tax treaty with Oz. (I may also be theoretically required to pay tax locally too - tho how a third world Asian government would find out about my stock trading in Australia is a different matter.)

If I live in a country WITH a double tax treaty with Oz, I supposedly pay tax to my host country only - tho the consensus is that no-one in third world govts would chase that up.

In other words you get de facto tax-free status.

What I don't know is the situation if I live outside Australia and make profits in the US (US broker, US stocks). I do not have to declare these profits to the ATO - they told me. But what about the IRS?

Anyone know - or know where I can find out? (I suspect the answer is 'no' - but confirmation from someone who's experienced the situation would be comforting.)

Thanks again.

Moved from the "United States" forum. Original message number: 537