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CHANGES TO CGT MAIN RESIDENCE EXEMPTION RULES

If you are a foreign or temporary tax resident of Australia, you could be affected by the change to Capital Gains Tax (CGT) legislation.

Properties acquired by foreign and temporary taxpayers after Budget Night (9 May 2017) will not be eligible for the main residence exemption.

Properties held prior to Budget Night will be grandfathered until 30 June 2019, meaning they may be eligible for the main residence exemption if sold before 30 June 2019.

For more information, see the ATO link below:

The content within these articles was correct at the time of writing. Please contact us for updated information and advice. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

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