More power to meet the needs of your non-resident clients
We’ve enhanced the investment options for your non-resident clients on our award-winning HUB24 Invest platform. To better support their needs, your clients can now access:
- Managed portfolios*
- International listed securities*
Your clients will continue to enjoy access to:
- Australian listed securities
- Term deposits
- Managed funds; and
- Cash
*Excludes U.S. tax residents residing in the U.S. who cannot acquire U.S. securities or managed portfolios.
U.S. Tax residents
US tax residents can now open a HUB24 Invest account – individual and joint accounts only – via the standard account opening procedures.
U.S. tax residents who reside in the U.S. can establish a HUB24 Invest account, whilst in Australia, however, they are unable to invest in:
- Managed portfolios; or
- US listed securities.
The w-9 form
The HUB24 Invest platform now gives U.S. tax residents easy access to the W-9 form, which can be submitted with an electronic signature. Although, it’s not mandatory to provide a W-9 form, there may be undesirable tax implications if one is not provided.
Permitted trading on the HUB24 Invest platform
| Type of investor | International securities (ex U.S.) | Australian securities | U.S. securities | Managed portfolios | Term deposits | Managed funds | Cash |
|---|---|---|---|---|---|---|---|
| Non-resident (non-U.S.) | YES | YES | YES | YES | YES | YES | YES |
| Non-resident U.S. – resides outside U.S. | YES | YES | YES | YES | YES | YES | YES |
| Non-resident U.S. – resides inside U.S. | YES | YES | NO* | NO* | YES | YES | YES |
| Super member | YES | YES | YES | YES | YES | YES | YES |
*Acquisitions (buys) are not permitted. Disposals (sells) are permitted.
HUB24 Invest Account Holders – application of Withholding tax
The rate of Withholding tax applied to all non-resident investors.
| Type of investor | Australian income | U.S. income | U.S. security disposal |
|---|---|---|---|
| Non-resident (non-U.S.) | As per Australian Double Taxation Agreement | 30% | 0% |
| Non-resident U.S. – resides outside U.S. | As per Australian Double Taxation Agreement | 0% / 24%* | 0% |
| Non-resident U.S. – resides inside U.S. | As per Australian Double Taxation Agreement | 0% / 24%* | 24%** |
| Super member | 0% | 15% | 0% |
*Dependant on whether a W-9 form has been provided.
**When a W-9 form has not been provided.
Australian tax residents
There are no changes for Australian tax residents.
Return to the Recent Platform Enhancements page.