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DerekW(Newbie)Newbie
19 July 2025

My father (not an Australian tax resident) is planning to transfer an overseas property to me as a gift. I am an Australian tax resident and intend to sell the property immediately after receiving it—potentially within 1–2 weeks.

I understand that receiving a gift is tax-free, and that the cost base for capital gains tax purposes is the market value of the property at the time it is received.

Could you please confirm whether there would be any CGT implications in Australia if I sell the overseas property immediately after receiving it?

Thank you.

456 views
3 replies
456 views
3 replies

All replies

MPrivate(Superuser)Superuser
19 July 2025

Hi,

yes there will be a capital gains tax event. If you sell for more than what the market value was at the time of transfer the gain will be taxable in Australia.

Can your father sell it and gift you the money instead? I imagine there are additional costs involved in transferring the property to you first and then selling it.

Liked by knaresbro
DerekW(Newbie)Newbie
21 July 2025

Thank you for your reply. So, if I sell the property at a price equal to or less than its market value at the time I received it, there would be no CGT for me. How do I determine the market value at the time of the transfer? Should I obtain a valuation report from an independent expert?

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