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For Aussies: Alternative Australian Share Brokers to Commsec

Featured Replies

G'day
 
I am an Australian citizen, presently living in Thailand.
 
Commsec just notified me that it will no longer support my Australian Share/ETF investments as I am not an Oz Resident.  This is very, very disappointing as I've held investments with Commsec for decades.
 
Appreciate suggestions of alternate Brokers who can/will support Australian Non-Residents so I can transfer my holdings
 
Tks
  • Author
20 hours ago, FriscoKid said:

Interactive Brokers

Saxo Bank

Swissquote

Tks - I have an account with IB, so that would be an easy option EXCEPT I'm leery about the complications involving any US dealings.

 

Am leaning towards Tiger Brokers, Spore.  Am happy with the ease of dealings with them and their Trading platform.  Any feedback about TB?

  • Author
9 minutes ago, Lacessit said:

I use CMC . They also enable international trades.

 

https://www.cmcmarketsstockbroking.com.au/

Sadly, seems I don't qualify.....[bl**dy Residential barrier yet again]

 

What are the minimum requirements to apply for a CMC Invest trading account? 

 

To apply for a CMC Invest trading account, the following criteria must be met:

- Must be an Australian citizen or hold a valid Australian visa
- Must be at lease 18 years of age
- Must be residing in Australia at the time of application
- Must have an Australian registered mobile number

- Must have a valid email address

 

Just now, dinga said:

Sadly, seems I don't qualify.....[bl**dy Residential barrier yet again]

 

What are the minimum requirements to apply for a CMC Invest trading account? 

 

To apply for a CMC Invest trading account, the following criteria must be met:

- Must be an Australian citizen or hold a valid Australian visa
- Must be at lease 18 years of age
- Must be residing in Australia at the time of application
- Must have an Australian registered mobile number

- Must have a valid email address

 

Good luck with your search.

 

IMO these share brokers are being bloody stupid.

On 8/5/2025 at 8:34 PM, dinga said:
G'day
 
I am an Australian citizen, presently living in Thailand.
 
Commsec just notified me that it will no longer support my Australian Share/ETF investments as I am not an Oz Resident.  This is very, very disappointing as I've held investments with Commsec for decades.
 
Appreciate suggestions of alternate Brokers who can/will support Australian Non-Residents so I can transfer my holdings
 
Tks

Atlas Wealth in Qld. Epic. 

I use nabtrade.com.au for my Oz holdings and Interactive Brokers for my US ones, both allow non-resident accounts

Last I looked CommSec had no restriction on selling. The regulators banned selling from some overseas countries . Using a VPN I found was a solution 

Bell Direct for me but they don't know I live overseas most of the time, well, nearly all the time.

 

@dinga may I ask how Commsec became aware that you are not an Ozzy resident. I use Commsec also. Apologies for being a bit off topic but my accountant set me up to.... may I say...meet the requirements of being an Ozzy resident... so far so good with my arrangement with Commsec and the ATO... Touch wood...

Some of the Singaporean Banks (UOB, DBS) and stock brokers (DBS Vickers and others) can work if you have a decent sized portfolio and are Thai Tax resident (spending more than 180 days in Thailand, and not a US citizen or resident).  Does require you to have a Thai tax TIN.  Otherwise, International Brokers and the like are best (but many don't allow trades on the ASX).

Commsec did the same thing to me after I phoned them Re my account. 

They asked me if I was calling from overseas, then would not allow me to buy, only sell.

I transferred all my holdings to Westpac share trading. 

Commsec also stopped my ability to buy, on another thread somewhere it was suggested HSBC are good for non residents,but you need to call them as the online application says you need to be in Australia. At lease thats what the poster said, I haven't called them but need to find something. 

  • 2 weeks later...

NAB trade. 

I opened an NAB savings account and NAB trading account whilst in Thailand. 

  • 4 weeks later...
  • Author

Thanks for all the suggestions. 

 

FYI I elected to not go with the charade of pretending I reside in Oz by providing an Oz address - but the simplest & (I hope) lowest risk of transferring my Commsec holdings to Tiger Brokers, Singapore [with whom I already had an account].  TB use BNP Paribas as their Custodian for Oz shares - BNP are a CHESS Sponsor with the downside that my shares are held in an "omnibus" account by BNP, rather than in my own name.  The transfers occured easily & quickly  

On 9/19/2025 at 12:47 AM, dinga said:

Thanks for all the suggestions. 

 

FYI I elected to not go with the charade of pretending I reside in Oz by providing an Oz address - but the simplest & (I hope) lowest risk of transferring my Commsec holdings to Tiger Brokers, Singapore [with whom I already had an account].  TB use BNP Paribas as their Custodian for Oz shares - BNP are a CHESS Sponsor with the downside that my shares are held in an "omnibus" account by BNP, rather than in my own name.  The transfers occured easily & quickly  

At some stage in the future they will ask you to state your tax residency status.  I have already had this from two of my Australian banks.  One of the baks asked me a second time a few years later. 

 

I state I am a resident for tax purposes, despite living in Thailand.  I can argue this point because I have maintained a domcile in Australia, and a vehicle, bank accounts, sim card, club membership and other community ties, and I have birthday and Christmas presents delivered to family members, so also maintain family ties. 

 

When the time comes, will you make a false declaration? 

3 minutes ago, KhunHeineken said:

When the time comes

 

IF the time comes. 

 

 

There. All fixed now. 

You're welcome 👍

 

 

 

11 minutes ago, Nemises said:

 

IF the time comes. 

 

 

There. All fixed now. 

You're welcome 👍

 

 

 

That's called, "The Ostrich Syndrome."  :cheesy:

 

Some like to be better prepared. 

 

2 hours ago, KhunHeineken said:

I have already had this from two of my Australian banks.


To allow for checking, could you please advise the names of the two Australian banks? TIA. 

7 minutes ago, Nemises said:


To allow for checking, could you please advise the names of the two Australian banks? TIA. 

 

Westpac and St.George.  

 

Note:  St.George is owned by Westpac. 

 

I kept the email from St. George. 

 

Here it is.

 

"As an account holder with us, you are required to provide your tax residency status. This is an international obligation for Australian financial institutions to share this with the Australian Taxation Office (ATO).

What do I need to do?

When you next log on to Internet or Mobile Banking please provide your foreign tax residency status under the 'My details & settings' menu in Internet Banking or the 'Services' menu in Mobile Banking.

If you are a foreign tax resident you will be asked to:

  • Provide the country of tax residency
  • Provide your Tax Identification Number (TIN) if you have been issued one, or a reason for not providing one.


Why is this important?

This information is being collected as part of the international 'Common Reporting Standard' (CRS) and requires Australian financial institutions to provide the tax residency of all customers to the Australian Taxation Office (ATO).

This international agreement will help ensure international tax transparency and the exchange of financial account information between participating nations.

Thank you for banking with us."

 
 

^ Interesting. I’ve been with Westpac for over 30 years and for the past decade I have sent hundreds of thousands of AUD directly from them to my Thai bank account.
 

Never once have they asked me to state my residency status 🤔 

5 minutes ago, Nemises said:

^ Interesting. I’ve been with Westpac for over 30 years and for the past decade I have sent hundreds of thousands of AUD directly from them to my Thai bank account.
 

Never once have they asked me to state my residency status 🤔 

I just looked. 

 

Go into your Westpac online banking.  Up the top go into "Service" then "Preferences." Then scroll down to see "Tax Residency."  I clicked to view mine and they sent a couple of OTP's through. 

 

Mine is set to "Foreign Tax Residency - No" as it should be.  

 

I suggest you check yours, but that hasn't always been there.

  • Author
3 hours ago, KhunHeineken said:

At some stage in the future they will ask you to state your tax residency status.  I have already had this from two of my Australian banks.  One of the baks asked me a second time a few years later. 

 

I state I am a resident for tax purposes, despite living in Thailand.  I can argue this point because I have maintained a domcile in Australia, and a vehicle, bank accounts, sim card, club membership and other community ties, and I have birthday and Christmas presents delivered to family members, so also maintain family ties. 

 

When the time comes, will you make a false declaration? 

NO  -  for many years, I've been a Tax Resident of Thailand -  that's been made clear to all, including the ATO and my banks

  • Author
9 minutes ago, KhunHeineken said:

Have you been paying non resident tax?  If not, keep an eye out for the below, it's only a matter of time.  . 

 

https://hlb.com.au/tax-residency-changes-for-individuals

Thanks - was aware of those changes and they have ZERO effect on me [no doubt they'll keep plugging away to try and capture every Oz Passport holder in their desperation to collect more taxes that can be wasted]  

3 minutes ago, dinga said:

Thanks - was aware of those changes and they have ZERO effect on me [no doubt they'll keep plugging away to try and capture every Oz Passport holder in their desperation to collect more taxes that can be wasted]  

Interested as to why you think they will have no effect on you. 

 

There's no tax free threshold in the non resident tax brackets. 

 

Foreign resident tax rates 2020 to 2026

Foreign resident tax rates for 2019–20 to 2025–26.

Foreign resident tax rates 2025–26

Taxable income

Tax on this income

0 – $135,000

30c for each $1

$135,001 – $190,000

$40,500 plus 37c for each $1 over $135,000

$190,001 and over

$60,850 plus 45c for each $1 over $190,000

1 hour ago, KhunHeineken said:

Mine is set to "Foreign Tax Residency - No" as it should be. 

 

As is mine. 

  • Author
23 minutes ago, KhunHeineken said:

Interested as to why you think they will have no effect on you. 

 

There's no tax free threshold in the non resident tax brackets. 

 

Foreign resident tax rates 2020 to 2026

Foreign resident tax rates for 2019–20 to 2025–26.

Foreign resident tax rates 2025–26

Taxable income

Tax on this income

0 – $135,000

30c for each $1

$135,001 – $190,000

$40,500 plus 37c for each $1 over $135,000

$190,001 and over

$60,850 plus 45c for each $1 over $190,000

Very simple  - I pass the so-called tests;

 

  1. Residence accordingly to ordinary concepts (i.e. someone who resides in Australia);  NO -  CLEARLY I AM A RESIDENT OF THAILAND  -  LIVED AND WORKED HERE FOR OVER 2 DECADES [GAINED PERMANENT RESIDENCE STATUS OVER A DECADE AGO; THAI WIFE; USUFRUCT & HABITATION AGREEMENTS OVER REAL PROPERTY; IN ALL THAT TIME HAVE ONLY LEFT THAILAND FOR LIMITED PERIODS - MAXIMUM 2 WEEKS AT A TIME - AND ONLY A FEW TIMES EACH YEAR ETCETCETC]   
  2. The domicile and ‘permanent place of abode’ test; NO - CLEARLY THAT'S THAILAND
  3. The 183-day test; or  NO  -  NEVER WITHIN COOEEE OF THAT PERIOD [OVER THE PAST DECADES, PROBABLY THE MOST TIME I'VE SPENT IN AUSTRALIA IS ABOUT 15 DAYS IN ANY FINANCIAL YEAR
  4. The Commonwealth superannuation fund test.  NO - I DO NOT RECEIVE ANY PAYMENTS FROM COMMONWEALTH SUPER 

The primarily test is the 183-day test, that is, if a person who is physically present in Australia for a period of 183 days or more in any income year, this person will be considered as a resident for Australian tax purposes.  NO  -  NEVER THE CASE  

The secondary test is a ‘Factor Test’ which applies to individuals who spend more than 45 days but less than 183 days in an income year. NO - NEVER HAVE SPENT ANYWHERE NEAR 45 DAYS IN OZ HENCE THE 'SECONDARY TESTS ARE IRRELEVANT ANYWAY.   The secondary tests focus on four factors, two of which must be satisfied by that person to be deemed as resident for tax purposes. Factors include:

  • The Right to reside permanently in Australia (e.g. citizenship or permanent residency);  YES
  • The ability to access accommodation in Australia (e.g. rights of ownership, leasehold interest, licenses);  NO - NONE
  • Whether the individual’s family (spouse or any of their children under 18) are generally located in Australia;  NO
  • The individual’s Australian economic connections (employment, carry on business, interests in Australia). NO - AUSTRALIAN ASSETS ARE MINOR WHEN COMPARED TO ASSETS OUTSIDE OZ  -  AN ARGUMENT THAT COULD NOT BE PROSECUTED EXCEPT IN VERY, VERY BAD FAITH.  

Im a non resident for tax purposes, the bank automatically deducts 10% tax on interest, I only invest in companies that pay fully franked dividends so Australian tax is paid by the company and I have an income stream from Australian Suuper so essentially tax free.

 

When the banks ask me, I tell them Im a non resident and dont have a tax number in Thailand as Im retired, that seeems to satisfy them. Also as a non tax resident if I make a capital gain in my asx listed shares, its tax free as a non resident for tax purposes theres no capital gains tax. 

 

When I left Australia more than a decade ago my accountant informed the tax office, I think 2 times the ATO contacted my saying I owed some money, a few hundred dollars, so banks + ATO know exactly my situation this setup works well for me.  

 

My only issue is Commsec banned me from buying stocks, I contacted a few brokers / trading platforms but I cant find a Chess option that will accept a non resident. 

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