doodle

I've been living in California for the past 6 years with my husband and three girls. Now we have a question about capital gains tax if anyone could help please. We have bought a house which we have lived in for 18mths, I know that we need to live in the house for 2 years before we dont have to pay any capital gains tax on the profit that we make on it. The complicated part is that we are planning on going to live in Australia next July 2005 and rent out our home indefinately. Does anyone know the tax situation should we eventually sell the house and transfer the profit to Australia.

Any advice would be welcome.

Pulaski

Speak to a tax accountant (CPA) - you are talking (potentially) big bucks and it will be worth a few of them to ensure that you get advice from someone who knows what they are talking about, .... and who has professional indemnity insurance!

scrubbedexpat099

You could try MotleyFool or another Financial Forum.

PI Insurance, well it is most normally arranged to comply with regulatory requirements and/or to protect the Company assets, paying compensation to injured parties is a matter of last resort, much better to find someone who you can be reasonably assured knows what they are doing.