I'm an Australian tax resident (since 2010). If I sell my London investment flat, will I have to pay CGT to the ATO? I will be taxed in the UK using the 2015 CGT rebasing (Non-resident) method, so will pay HMRC the CGT from the 2015 valuation. Will I have to pay CGT in Australia based on the original purchase price?
Hello @Smoopy
Australian residents are taxed on their worldwide income which includes capital gains on overseas assets.
To work out your capital gain or loss, you will need to know what the value of the flat was when you acquired it.
If you owned the flat prior to becoming an Australian resident, you will be taken to have acquired it when you became an Australian resident.
If you have already paid tax in the UK, you may be able to claim a foreign income tax offset to relieve double taxation.
I recommend having a look at the following information:
Hello @Smoopy
Australian residents are taxed on their worldwide income which includes capital gains on overseas assets.
To work out your capital gain or loss, you will need to know what the value of the flat was when you acquired it.
If you owned the flat prior to becoming an Australian resident, you will be taken to have acquired it when you became an Australian resident.
If you have already paid tax in the UK, you may be able to claim a foreign income tax offset to relieve double taxation.
I recommend having a look at the following information:
21 May 2026 · 4 min read time
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