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Wilson1004(Newbie)Newbie
30 Jan 2023

Hi,


I was living in Australia on Student Visa and then 485 Graduate Working Visa, now I have obtained my PR in Jan 2023.


Based on the definition of Australian resident for Tax purpose, I identity myself as an Australian resident for Tax purpose the whole time, even before my PR is granted.


If I am understanding right, when I am an Australian resident for Tax purpose, but holding a temporary Visa, most of my foreign income is not taxable?


I have sold my investment property in China in July 2022, when I was still on temporary 485 working visa. I just want to confirm if it is true that the selling of the property is not applicable for Australian Capital Gain Tax? And I don't need to declare the selling since it was sold before I obtained my PR?


And I understand if some temporary resident is in a De fecto relationship with an AU Citizen/PR, this person will be identified as an Australian resident for tax purpose. Since I am already an Australian resident for tax purpose the whole time, engaging into a De facto relationship with a local people before my PR is granted won't change my tax residency, right? Does it have any impact on my property's CGT? Thank you so much!



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739 views
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Most helpful reply

CaroATO(Community Support)Community Support
1 Feb 2023

Hi @Wilson1004,


Your residency status for tax purposes is different to your immigration status.


Remember as an Australian resident for tax purposes you let us know about your world-wide income. As a foreign resident you tell us what income you've earned in Australia. As temporary resident you'd tell us about your Australian income and any income from employment or services performed overseas.


You've said you've been an Australian resident the whole time. This being the case, when you sell your property in China it will attract capital gains tax, (CGT).


If you were a foreign or temporary resident for tax purposes when you sold your property in China it wouldn't attract CGT unless you had an Australian resident spouse.


If you haven't already have a look at the information on our website where it talks about your residency status and CGT.

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Most helpful reply

CaroATO(Community Support)Community Support
1 Feb 2023

Hi @Wilson1004,


Your residency status for tax purposes is different to your immigration status.


Remember as an Australian resident for tax purposes you let us know about your world-wide income. As a foreign resident you tell us what income you've earned in Australia. As temporary resident you'd tell us about your Australian income and any income from employment or services performed overseas.


You've said you've been an Australian resident the whole time. This being the case, when you sell your property in China it will attract capital gains tax, (CGT).


If you were a foreign or temporary resident for tax purposes when you sold your property in China it wouldn't attract CGT unless you had an Australian resident spouse.


If you haven't already have a look at the information on our website where it talks about your residency status and CGT.

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