Expat Chat Episode 55 – Moving Into A Investment Property As A Expat
Welcome to the fifty fifth episode of #Expatchat where we discuss the latest tax and financial issues affecting an #Australianexpat.
In today’s Expat Chat we talk about what an Australian expat needs to be aware of when moving into a investment property when returning back to Australia and the property has never been lived in before by that expat.
Many Australian expats have bought a property back in Australia as a investment with a view to moving into it when they return to Australia however what are the tax ramifications of doing this?
The tax laws applying to a investment property held by a Australian expat has changed a number of times since 2012 when the Australian government removed the eligibility of Australian expats to access 50% capital gains discount (CGT) on a property that has been held for longer than 12 months.
Discussion Points on Todays Podcast Episode
In this episode we run through the following topics:
- Is an expat eligible for the 50% CGT discount?
- How is the capital gains tax liability calculated?
- Do I need to get a valuation done when I move into the property?
- How does the pro-rata system work when calculating capital gains tax?
- If I move back into the property as my principle place of residence does that reset my CGT liability?
Links that we discussed in this episode include:
- Ask Atlas – Have your questions answered on the podcast by clicking this link – https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/
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