Minimise CGT with a proxy non-tax resident identity in Australia

Hi folks,

I’ve been thinking about this for quite some time, and last night’s CGT change news made me even more curious about whether this idea is actually feasible.

I’m a first-generation immigrant in Australia and currently holding a stock that I personally believe has strong multi-bagger potential over the next 5–10 years.

With the current CGT rules — especially after the latest proposed changes — a significant portion of any future gains could be impacted by tax if things go well. That got me thinking: since my parents are not Australian tax residents, and non-tax residents generally aren’t subject to Australian CGT on regular ASX shares, could this potentially be used as a legal workaround to reduce tax exposure?

A few questions came to mind:

1. Are there any trading platforms that allow non-tax residents to open accounts without a TFN? I checked some mainstream platforms like CommSec, and it seems they don’t support non-resident account openings easily.

2. Hypothetically, if the investment performs well and my parents sell the shares while keeping the money in an Australian bank account (without transferring it overseas), would this likely attract ATO scrutiny?

3. If I later used funds from my parents’ account — for example, toward purchasing a property under my own name — could the ATO trace this back and question the arrangement?

To be clear, I’m not someone trying to avoid contributing to society or “take without giving.” I completely understand paying a fair share of tax on gains. I just feel the latest policy direction is becoming increasingly harsh on people taking substantial personal investment risk. I’m willing to contribute, but at some point it starts to feel disproportionate relative to the risk individual investors are carrying.

Keen to hear thoughts from people who understand the legal/tax side of this better.