Guest scmercer

Taxation in Oz

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    Guest scmercer

    Hi, we are currently trying to sell our house but having problems with the current market. It is likely that we will have to rent it for a couple of years until the market picks up. Does anyone know if the profit on the house sale will be subject to tax if I sell it once once we are resident in Australia??

     

    Thanks

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    As Andrew says, it depends on your circumstances.

     

    If you don't buy a property in Australia - probably no CGT to pay on the disposal of the UK property, so long as you don't hold onto it for more than 6 years and are resident in Australia on its sale.

     

    There are some free tax factsheets here if you are interested:

    http://www.collettandco.com/factsheet.cfm

     

    Best regards.

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