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12 October 2018
I have a specific scenario that I can't seem to get an answer for.
I am Australian, my wife is French. In 2014 we bought a house in NSW. Joint ownership 50/50.
At the end of 2015 we moved to France and kept the house in NSW which is being rented out.
I am now a non-resident of australia for tax purposes because I live overseas permanantly.
My first question is:
Do either myself or my wife need to file australian tax returns? The rental property in NSW is pretty much running at a loss or break even.
Im worried in the future that when we sell it we will pay too much CGT.
Which brings me to my second question:
Is there a method of which we can reduce the amount of CGT to pay?
Most helpful response
ATO Certified Response
15 October 2018
- last edited on
22 December 2020
Welcome to our Community! Thanks for your question.
You can check if you’re required to lodge by using our Do I need to lodge a tax return? tool.
If you sell your rental property in the future, you may be liable for a capital gain. I have included some helpful links from our website that may assist your understanding of Capital gains tax:
I hope this helps, Jodie M
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