I have a house in the UK and I have been looking at the implications for Capital Gains Tax when I sell.
Here are my details and questions.
1 I am a permanent resident here in Oz
2 I think I am liable for CGT with the Australian Tax Office if/when I sell my house
3 Capital Gains tax is calculated on the valuation of the house when I arrived in Australia and the price when sold.
4 For the valuation of the house. Do I get an estate agent to give a valuation or does it have to be a property surveyor as one person posted on another board? Also do I need more than one valuation?
Any help with these questions would be much appreciated as it is a little confusing.