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CGT

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Newbie

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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

Taxicorn

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

 

 

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Best answer

ATO Certified

Taxicorn

Replies 3

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

 

 

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Newbie

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

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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

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Newbie

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Thanks a lot
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