Moving back to UK from Australia
May 23rd 2017, 10:54 am
#1
Forum Regular
Thread Starter
Joined: Oct 2003
Location: Sydney
Posts: 45
Moving back to UK from Australia
Hi everyone,
Been living in Sydney for the past 10years, I have Australian and Uk citizenship,
When I sell my apartment in Sydney would have to pay tax from the sale of the property in Australia?
As I would be moving to London, I would be looking at buying a place back in the UK, would be able to transfer the money from Sydney or would there be some formality I need to go through?
Been living in Sydney for the past 10years, I have Australian and Uk citizenship,
When I sell my apartment in Sydney would have to pay tax from the sale of the property in Australia?
As I would be moving to London, I would be looking at buying a place back in the UK, would be able to transfer the money from Sydney or would there be some formality I need to go through?
May 23rd 2017, 11:36 am
#2
Forum Regular
Joined: May 2008
Posts: 115
Re: Moving back to UK from Australia
Sorry, I was apparently wrong.
Last edited by benhila; May 23rd 2017 at 12:43 pm.
May 23rd 2017, 12:37 pm
#3
Concierge
Joined: Jan 2013
Location: Western Australia
Posts: 21,138
Re: Moving back to UK from Australia
Yes, you will have to pay capital gain tax in Australia (and given the huge increase in property values in Sydney over the past 10 years, probably a considerable sum).
There is no "formality you need to go through" when transferring your money from Sydney to the UK. You will need a bank account in the UK in your name.
There is no "formality you need to go through" when transferring your money from Sydney to the UK. You will need a bank account in the UK in your name.
https://www.ato.gov.au/general/capit...ing-your-home/
May 23rd 2017, 12:41 pm
#4
Concierge
Joined: Jan 2013
Location: Western Australia
Posts: 21,138
Re: Moving back to UK from Australia
Hi everyone,
Been living in Sydney for the past 10years, I have Australian and Uk citizenship,
When I sell my apartment in Sydney would have to pay tax from the sale of the property in Australia?
As I would be moving to London, I would be looking at buying a place back in the UK, would be able to transfer the money from Sydney or would there be some formality I need to go through?
Been living in Sydney for the past 10years, I have Australian and Uk citizenship,
When I sell my apartment in Sydney would have to pay tax from the sale of the property in Australia?
As I would be moving to London, I would be looking at buying a place back in the UK, would be able to transfer the money from Sydney or would there be some formality I need to go through?
We transfer money to our UK bank account as we need it, and pay tax in the UK on our total taxable income.
Last edited by spouse of scouse; May 23rd 2017 at 12:47 pm.
