We are NZ citizens living and working in Australia since 2017. We are selling off our family home in NZ & would like to bring the proceeds of the sale to Australia.
My tax returns are up-to-date in NZ & Aus.
Will I have to pay any tax in Australia on the amount transferred?
Hi @AshUchil,
Once you've sold the property you won't be taxed on the transfer of money to your Australian account. We'd look at this as a transfer of your own money and wouldn't have any issues with it.
However, you may be liable for capital gains tax (CGT) on the actual sale. We'd need to know a bit more about your situation to be able to say if CGT applies or not. When you move to Australia and become a tax resident here we take that date as the date you became owner of your assets. This is known as 'deemed acquisition''. You may then be liable for CGT on any gain the property made from this date until the date you sold it. I'll include some links below that may help out a bit further:
Hi @AshUchil,
Once you've sold the property you won't be taxed on the transfer of money to your Australian account. We'd look at this as a transfer of your own money and wouldn't have any issues with it.
However, you may be liable for capital gains tax (CGT) on the actual sale. We'd need to know a bit more about your situation to be able to say if CGT applies or not. When you move to Australia and become a tax resident here we take that date as the date you became owner of your assets. This is known as 'deemed acquisition''. You may then be liable for CGT on any gain the property made from this date until the date you sold it. I'll include some links below that may help out a bit further:
@EthanATO thank you, much appreciated.
We landed in September 2017 & the the property had a Government Valuation of ‘$ X’. Though the property appreciated in the last 5 years & the valuation did change, due to the current circumstances of a property downturn in Auckland and condition of the house we ended up selling it at the same value of ‘$ X’.
We have all documents of the legal transactions and will find out how to get hold of the 2017 GV to show ATO here.
Would ATO have the ability to find out that information for us?
I appreciate your help & thank you for your time.
Regards
Ash.
21 May 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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