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CGT

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Newbie

Views 819

Replies 4

My friend migrated to Australia in year 2000,
He used to own property back home in his country ,which was bought before 1985,
if he sells his overseas property today and brings his money here in Australia , Will there be any CGT payable
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ATO Certified Response

Taxicorn

Replies 3

No I don't believe there would be but as long as there weren't significant additions/upgrades post 1984

 

 

4 REPLIES 4

Most helpful response

ATO Certified Response

Taxicorn

Replies 3

No I don't believe there would be but as long as there weren't significant additions/upgrades post 1984

 

 

Newbie

Replies 2

Thanks for your reply
How can I confirm this with tax office, or it’s confirmed
Regards

Community Manager

Replies 1

Hi @sikaser,

 

The information provided by @macfanboy is correct. So long as your friend's situation meets the criteria set out in the links @macfanboy has provided then there shouldn't be any CGT payable.

 

Thanks, NateH

Newbie

Replies 0

Thanks a lot