Foreign residents can only claim CGT main residence exemption if they sell the property before 30/06/2020 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign resident no longer entitled to the CGT main  

resident exemption unless certain life event occur 

 

 

 

 

 

 

Note: This change only applies if you are not an Australian resident for tax purposes at the time of the disposal (when you sign the contract to sell the property). 

 

Recommendation for Autralian property owners living oversea to apply for CGT exemption: 

  • Sell the property before 30/06/2020 ( if the property held before 09/05/2017) 

  • Return to Australia and qualified as an Australian tax resident => able to sell your main residence & qualifies for CGT exemption. For example:  residency test, domicile test, 183 days test and Commonwealth superannuation test.  

 

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