4lex

Friends of mine have recently moved to Aus, about a year ago on a 457. They've recently commuted this visa to PR and intend to stay permanently. They have a property in the UK which is currently rented out and that they ultimately intend to sell.
There's a lot of conflicting advice around what sort of tax exposure this might mean to them and I don't currently have real access to the web to read up at the ato site (posting from the mobile). Obviously they need some specific advice from a decent bean counter, but is anyone able to comment broadly from experience on what potential tax exposure they may have here?

spottydog

I'm pretty sure that as long as they don't buy a place here the UK place can be still counted as their primary place of residence for Capital gains tax purposes. I think they can rent it out for up to 6 years for this to still be true.

If they buy an Aussie place to live in before selling the UK property then the Aussie place would become their PPOR and the UK place liable for capital gains

4lex

Thanks very much.

Safin

pretty certain even if you do buy in oz you can still nominate the uk property as 'main home' for tax purposes for up to 6 years