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Tax on money from house sale

Tax on money from house sale

Old May 18th 2004, 10:17 am
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Default Tax on money from house sale

We are planning to sell our house in the UK prior to moving to Australia. We hope to make quite a good profit on the sale and will have approx $A200,000 to take with us. Will we be liable to pay any tax on this money when we go to Australia?
THanks
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Old May 18th 2004, 10:20 am
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Default Re: Tax on money from house sale

Originally posted by dazandreb
We are planning to sell our house in the UK prior to moving to Australia. We hope to make quite a good profit on the sale and will have approx $A200,000 to take with us. Will we be liable to pay any tax on this money when we go to Australia?
THanks
No
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Old May 18th 2004, 10:20 am
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Default Re: Tax on money from house sale

Originally posted by dazandreb
We are planning to sell our house in the UK prior to moving to Australia. We hope to make quite a good profit on the sale and will have approx $A200,000 to take with us. Will we be liable to pay any tax on this money when we go to Australia?
THanks
No
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Old May 18th 2004, 10:31 am
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Default Re: Tax on money from house sale

Originally posted by dazandreb
We are planning to sell our house in the UK prior to moving to Australia. We hope to make quite a good profit on the sale and will have approx $A200,000 to take with us. Will we be liable to pay any tax on this money when we go to Australia?
THanks

You will have to pay tax on any interest the money earns - so depends on how quick you spend it !

But as Timber says, no other tax to pay
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Old May 18th 2004, 11:12 am
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Thank you, I think I have been getting mixed up with the capital gains tax and was really worried that we would have to pay loads of tax when we got there.
Thanks a lot.
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