Wednesday 7 March 2018

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:


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