Read more here: https://www.abc.net.au/news/2020-01-02/australian-expats-face-tax-slug-cgt-main-residence-exemption/11836094 but in a nutshell those living overseas have until the end of June 2020 to sell their homes if they want to avoid big capital gains tax bills.
With many Australian’s living abroad for work have in the past been able to claim capital gains tax (CGT) exemption on the family home as long as it was rented out for no more than six years at a time.
So is that you, are you someone that has been living abroad, or know of someone because this will affect them and we know tax time isn’t too far away.
If you want to know more, please contact me anytime on 0429 363 047.
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