Author: JodieR_ATO(Community Support)Community Support 9 Sept 2021
Hi @Eddyb1987,
Your accountant may be correct. When you originally arrived in Australia, did you already hold overseas capital assets. Generally, if you're a resident for tax purposes, the acquisition date is looked at from the date you arrived here.
However, if you remained a temporary resident, your overseas capital assets may not be looked at for tax purposes. You will need to determine your residency status in the first instance. Thereafter, you can confirm whether or not your overseas capital assets are reportable here.
The website advises- If a capital gains tax event occurs while you are a temporary resident, you are not liable to capital gains tax (nor treated as having made a capital loss) unless the asset is 'taxable Australian property'.
Hi Jodie
I arrived in Australia 4 years ago with no assets and since being here I have acquired and sold some ETFs for a profit all whilst being on a temporary visa status and being resident for tax purposes.
The "taxable Australian property" part is confusing me as the ETF's I own don't contain any Australian companies however the ETF itself is domiciled in Australia. My accountant is saying the fact that the ETF is domiciled in Australia makes it taxable Australian property?
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