Hi, my wife is Irish and a permanent resident in Australia for tax purposes.
Her brother in Ireland wants to buy her out of a property they share in Ireland. How will her share of the money from the sale be treated if she wants to transfer it to Australia?
Will it be taxed in Australia?
Is it better to transfer the money as a lump sum or in smaller instalments? Is there any difference between the two methods?
Thanks for your assistance.
Kind regards,
Dan
Hi @DanT
I'm guessing that's her investment property?
If it is, then she'll have to pay CGT.
If she has to pay tax in Ireland, then she can claim FITO which will reduce tax here in Australia.
Lump sums or instalments won't matter when transferring the funds.
Hi @DanT
I'm guessing that's her investment property?
If it is, then she'll have to pay CGT.
If she has to pay tax in Ireland, then she can claim FITO which will reduce tax here in Australia.
Lump sums or instalments won't matter when transferring the funds.
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