Hi JK.

Interesting question.

If this is a permanent move overseas, then I can see why you’re asking this question.

Most overseas residents as I understand tend to invest in a global portfolio, kind of like what you’re describing. After leaving Oz, and possibly being a tax resident elsewhere, there’s very little benefit to having a specific stake in Aussie shares. Your expenses won’t be in Aussie dollars, and you won’t get the benefits of franking credits. Also, VEU contains a small amount of Aussie shares if I’m not mistaken. So global investors still have their suitable allocation based on our small market size.

If you may move back to Oz at a later date, then it’s a trickier conversation. Reason being, it could be expensive (tax wise) to change the portfolio around multiple times to align with new living arrangements. So if this is the case, I would try to find a balance that you’re happy with regardless of where you’ll be living.

Anyway, tricky question, but hope that helps.
Dave