Capital Gains Tax on sale of UK property
May 8th 2009, 1:13 am
#1
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Capital Gains Tax on sale of UK property
Can anyone please confirm if the CGT situation remains the same as that discussed here:
http://britishexpats.com/forum/showthread.php?t=416779
(Thanks to MartinLuther for the helpful information that you provided on that thread)
http://britishexpats.com/forum/showthread.php?t=416779
(Thanks to MartinLuther for the helpful information that you provided on that thread)
May 8th 2009, 1:43 am
#2
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Joined: Jul 2004
Location: Perth, WA
Posts: 743
Re: Capital Gains Tax on sale of UK property
Can anyone please confirm if the CGT situation remains the same as that discussed here:
http://britishexpats.com/forum/showthread.php?t=416779
(Thanks to MartinLuther for the helpful information that you provided on that thread)
http://britishexpats.com/forum/showthread.php?t=416779
(Thanks to MartinLuther for the helpful information that you provided on that thread)
You've done well if you still need to consider CGT since the house values have fallen in the last year.
May 8th 2009, 7:02 am
#5
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Re: Capital Gains Tax on sale of UK property
May 8th 2009, 7:24 am
#6
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Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Capital Gains Tax on sale of UK property
See also the attached tax factsheet.
If you are a temporary visaholder the position differs in that net rental income from the UK and any capital gains arising on the disposal of overseas located investments are simply disregarded in Australia - unless the Australian Government changes the position in next week's Budget.
Best regards.
If you are a temporary visaholder the position differs in that net rental income from the UK and any capital gains arising on the disposal of overseas located investments are simply disregarded in Australia - unless the Australian Government changes the position in next week's Budget.
Best regards.
May 8th 2009, 9:32 am
#7
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Thread Starter
Joined: Aug 2008
Posts: 22,348
Re: Capital Gains Tax on sale of UK property
See also the attached tax factsheet.
If you are a temporary visaholder the position differs in that net rental income from the UK and any capital gains arising on the disposal of overseas located investments are simply disregarded in Australia - unless the Australian Government changes the position in next week's Budget.
Best regards.
If you are a temporary visaholder the position differs in that net rental income from the UK and any capital gains arising on the disposal of overseas located investments are simply disregarded in Australia - unless the Australian Government changes the position in next week's Budget.
Best regards.
It looks like it's hard work to stay on the right side of two tax authorities and at the same time minimise the amounts that have to be paid.
I think I'll try and sell the house first and see where I go from there.
Best regards,
Paul
May 8th 2009, 8:22 pm
#8
Migration Agent
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Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Capital Gains Tax on sale of UK property
I am in the UK presently, Paul (London and Southampton mainly, for the next week) - if you would like 10 minutes on the phone discussing your situation please send me a PM or email with your phone number.
Best regards.
Best regards.
May 10th 2009, 8:28 am
#9
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Re: Capital Gains Tax on sale of UK property
Best regards,
Paul
May 10th 2009, 9:08 am
#10
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Capital Gains Tax on sale of UK property
Thanks for your kind offer Alan. My wife and I have settled on plan A for the moment (to sell). It represents the tidiest option for us right now. We prefer to walk away without having to worry about letting our house on the other side of the world and it's potential tax headache. But in a few months time and if it's not sold by then then we'll be hunting around for other options - At which point we'll definately contact you.
Best regards,
Paul
Best regards,
Paul
Feel able to contact me if you need any help in the future.
Best regards.
