Foreign residents selling Australian property need to be careful not to trigger inadvertent CGT consequences now that the main residence exemption is no longer available unless the conditions of the life events test are satisfied. Similarly, the 50% CGT discount is also only available subject to certain conditions. As these rules apply to legal personal representatives, trustees and beneficiaries of the deceased estates of foreign residents, there may also be estate planning considerations.
Click to read our article: CGT and foreign residents: reminder. (0.90 MB PDF)