Do I need a valuation for CGT when selling an overseas property?

 Author: NikkiATO(Community Moderator)Community Moderator

13 Apr 2026

Hi @melf2890,

@Taxduck has given the links but just jumping in to clarify a few things.

If you were an Australian tax resident (not a temporary resident) when you sold the UK property, Australia generally treats you as having acquired it at its market value on the date you became a tax resident. You can’t use the original 2021 purchase price. All amounts are then converted to AUD at the relevant dates to work out any capital gain or loss.

If you were a temporary resident at the time of sale, different rules may apply. While you remain a temporary resident, some foreign property may be disregarded for CGT. If your temporary residency has ended, the relevant valuation date is usually when you ceased to be a temporary resident, not when you first arrived.

In either case, you’ll need a reasonable market valuation at the relevant residency date, even if you expect to break even or make a loss. You can’t choose to substitute the original purchase price. The main residence exemption only applies in limited, fact‑specific circumstances and shouldn’t be assumed.

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