I have a client who is a Non-Resident and owns property in Australia. If the client sells an option to a third party for the third party to buy my clients Australian Real Property at a future date and agreed price, is the sale price of that option by the Non Resident subject to Tax in Australia?
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i think so
"Taxable Australian property includes:
- Australian real property, such as a house, apartment, commercial building or land
- an indirect interest in Australian real property
- a mining, quarrying or prospecting right in Australia
- a CGT asset that you have used to carry on a business through a permanent establishment in Australia
- an option or right over one of the above – for example, a contract to purchase property off the plan."
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