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Tax Questions Answered
Question Estimate CGT on possible sale of a home unit property Sydney used both as main residence and rented. Answer There is nothing in your question that would make me think that the building depreciation would not be written back against the cost base. Further if the unit is sold while the owner is living …
Question Dear Julia My question is about my wife’s tax residence in FY2023. In April 2022 I started a long term international posting in Europe and left Australia for at least 5 years. My wife and son joined me in June 2022 and my son started school in Europe in September that year. My wife …
Question Thank you for providing me with excellent advice in the past. I have a question about tax residence. I moved to Europe in April 2022 to take up long term employment for an international company. At the time I was on long service leave at my Australian company and did not do any work …
Question Personal Background We are planning to move to England this year. We live in a home in Victoria that we own (still have mortgage on it). It was our PPR for 12 months, then we used it as an occasional weekender and rented it out on other weekends. For the past 18 months we …
Question My Partner and I are both Australian citizens working and living in NZ , we have bought and lived in our house now for 4 years and we are thinking of selling our house in NZ and moving back to Australia .So far we understand there is no CGT payment required as we are …
Question Hi we are thinking about moving abroad this year with a trial period beforehand, and plan to sell our PPOR (ownership is joint tenants) as a precaution.The purchase price was $525,000 and sale price will be approximately $1m. Our original idea was for my wife to transit first with the children and start setting …
Question We bought a strata unit in Geelong in 2003, whilst living overseas paying $191,000. We lived in the UK from 2000 we returned to Australia in September 2021 and are now living in the unit. The current value is estimated to be $420,000. If we were to sell how much CGT would we be …
Question I am an Australian who has lived abroad for close to 20 years. I have a property that I own in Thailand that I would like to keep when I return to Australia once I repatriate. As the yield on property in Thailand is far greater than in Australia (8-10%), I am wondering how …
Question I bought a duplex unit in Tugun, QLD, in July 2010 for my mother to live in ($339,000). I was an Australian tax non-resident at the time and still am. The arrangement was that my mum paid all the outgoings (rates, water, insurance, etc). My mum even went to the trouble of adding her …
Question In 2014 February, me and my Mom bought a property for $579 000 (tenants in common 50% each) to live in (principal place of residence). I had moved to work overseas in 2009, and is still currently working overseas; the reason we bought in joint names is because My mom could not get bank …
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