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BriC(Newbie)Newbie
13 July 2024

I am b an Australian citizen and property owner. I wish to buy another property while I am a non resident for tax purposes living in Germany. What extra obligations do i have?

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159 views
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SimarATO(Community Support)Community Support
15 July 2024

Hi @BriC,

 

Firstly, you'll need approval. This is from the Foreign Investment Review Board (FIRB) to purchase.


Here are a few other obligations you may have. If you're planning to invest in Australia, you might be subject to Capital Gains Tax (CGT) on capital gains made from the disposal of Australian property. Rental income is subject to Australian income tax.


You can check more info at foreign investment terms and definitions here.

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Most helpful reply

SimarATO(Community Support)Community Support
15 July 2024

Hi @BriC,

 

Firstly, you'll need approval. This is from the Foreign Investment Review Board (FIRB) to purchase.


Here are a few other obligations you may have. If you're planning to invest in Australia, you might be subject to Capital Gains Tax (CGT) on capital gains made from the disposal of Australian property. Rental income is subject to Australian income tax.


You can check more info at foreign investment terms and definitions here.

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What are my obligations as an Australian citizen, non tax resident, when buying property in australian | ATO Community