Stake gives Australians access to US shares through Stake Wall St and to the ASX through Stake AUS. Because it operates in Australia, your activity sits inside the ATO's framework, and the tax office can see share disposals and dividend income through its data-matching program. The tax rules are standard; the twist with Stake is the heavy US-shares exposure and the currency conversion that comes with it.

How Stake activity is taxed

• Selling shares is a disposal and a CGT event, calculated in Australian dollars using the exchange rate on each date. Hold for more than 12 months and the 50% discount generally applies.
• US dividends are assessable income here. The US withholds tax before it reaches you, generally 15% with a W-8BEN on file.
• Double tax relief. You can usually claim the US tax withheld as a foreign income tax offset, so the same income is not taxed twice.
• ASX shares follow the normal rules: CGT on disposal, dividends as income with franking credits.

A quick worked example

You buy a US share for US$5,000 when the Australian dollar buys 65 US cents, so your cost base is about A$7,692. Later you sell for US$6,000 when the dollar buys 70 US cents, which is about A$8,571. Your gain is worked out in Australian dollars, roughly A$879, not the flat US$1,000, because the exchange rate moved between the two dates. Currency is part of the calculation on every US trade.

Importing Stake into Summ

You can bring your Stake history into Summ by importing your trade confirmations, annual tax statement or CSV. Summ handles the currency conversion and keeps your US and ASX activity in one report alongside your crypto.

Common tax gotchas

Currency on every trade. A US buy, a US sale and each dividend can all sit at different exchange rates, so your gain is driven by the share price and the currency move.

The W-8BEN. Without it, US withholding is higher. It is a quick form Stake provides and needs renewing periodically.

Foreign income tax offset. Claim the US tax withheld back, or you pay tax twice on the same dividend.

No franking on US shares. US dividends do not carry franking credits; only your ASX holdings do.

Keep the records. Contract notes and your annual statement fix the acquisition dates, prices and withholding you need at tax time.

Summ imports your Stake shares and dividends, applies the ATO's rules (currency conversion, the 12-month CGT discount, foreign income offsets), and produces an ATO-ready report for myTax or your accountant.

Generate a free preview to see your Stake position before filing.

Frequently asked questions

Do I pay Australian tax on US shares held through Stake? Yes. As a resident you are taxed on worldwide income, so US gains and dividends are assessable here.

How is the gain on a US share calculated? In Australian dollars, converting the purchase and the sale at the exchange rate on each date. The currency move affects the gain.

What is the W-8BEN for? It reduces US withholding tax on your dividends to 15% under the tax treaty.

Do Stake ASX shares get franking credits? Yes, franked ASX dividends carry franking credits; US dividends do not.