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Old Dec 8th 2017, 9:54 pm   #1
Shandyw
 
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Default Capital gains tax in UK and Aus

If you sell a property in the UK, do you have to pay CGT both in Aus and the UK?
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Old Dec 9th 2017, 10:26 am   #2
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Default Re: Capital gains tax in UK and Aus

There is a tax agreement so any tax you pay to HMRC will be offset against any tax due in Australia, so although you will be assessed by each tax authority you won’t pay twice.
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Old Dec 10th 2017, 6:08 am   #3
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Default Re: Capital gains tax in UK and Aus

Thanks
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Old Dec 16th 2017, 2:35 am   #4
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Default Re: Capital gains tax in UK and Aus

What type of Australian visa do you have, and where are you living presently?

Best regards.
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Old Dec 16th 2017, 6:52 am   #5
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Default Re: Capital gains tax in UK and Aus

Quote:
Originally Posted by Alan Collett View Post
What type of Australian visa do you have, and where are you living presently?

Best regards.
Hi Alan, I have both UK and Aus citizenship but I have lived in Aus for the past 10 years
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Old Dec 17th 2017, 11:19 pm   #6
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Default Re: Capital gains tax in UK and Aus

Quote:
Originally Posted by shandyw View Post
Hi Alan, I have both UK and Aus citizenship but I have lived in Aus for the past 10 years
Noted - thanks.

This means you will need to prepare a Non Resident CGT return for submission to HM Revenue within 30 days of the sale of a UK residential property completing.

There is also a CGT position in Australia to consider.

Feel able to telephone me to discuss - 03 9935 2929. I'll be around over the Xmas and NY period if needs be.

Best regards.
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Alan Collett of Go Matilda. Registered Migration Agent, Number 0102534
Chartered Accountant (UK and Australia). Registered Tax Agent (Australia)
http://www.gomatilda.com and http://www.bdhtax.com
Offices in Southampton (England), and Melbourne (Australia)
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