I am a dual citizen of Australia and the US, and a resident of the US. I have some savings in Australia that I would like to use to purchase mutual funds in the US. If I make the purchases using Australian dollars, will I have to pay taxes in Australia on the dividends?
I could bring the money over here and convert it to US dollars, but as the Australian dollar is strong I would prefer not to. Taxes for a non-resident are substantially higher in Australia, which is why I want to invest in the US.