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10 Oct 2023

My wife an I live in Australia and own our main residential house here. We also own a small property in Europe which is not rented out but is lived in by an elderly relative.


If we move to Europe at one point to care for our elderly relative we would wish to keep our Australian property as our 'main residence' in case we return at some point in the future however the European country specifies that if you own and live in a property in that country it is automatically classified as your 'main residence'. If the European country specifies the European property as our 'main residence' does this cancel out our Australian property from being our 'main residence'?

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1 replies
1,278 views
1 replies

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Most helpful reply

AlliATO(Community Support)Community Support
12 Oct 2023

Hi @World-traveler


Dealing with two countries can be complex.

 

We’re not able to comment or advice on other counties and their tax laws we can only give you information on our tax laws. You may wish to speak with a tax professional who is familiar with both requirements to have a clear understanding of your full obligations.

 

You might be able to apply the treating your former home as your main residence rule to your Australian home. But you can't have another main residence at the same time.

 

If you have a look at our Your main residence – home page, it will go into more details about the eligibility including if you become foreign residents for tax purposes. 

All replies

Most helpful reply

AlliATO(Community Support)Community Support
12 Oct 2023

Hi @World-traveler


Dealing with two countries can be complex.

 

We’re not able to comment or advice on other counties and their tax laws we can only give you information on our tax laws. You may wish to speak with a tax professional who is familiar with both requirements to have a clear understanding of your full obligations.

 

You might be able to apply the treating your former home as your main residence rule to your Australian home. But you can't have another main residence at the same time.

 

If you have a look at our Your main residence – home page, it will go into more details about the eligibility including if you become foreign residents for tax purposes. 

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