Laws limiting foreign residents’ ability to claim the CGT main residence exemption are now in place. This means that if you’re a foreign resident at the time of disposal of the property that was your main residence, you may not be entitled to an exemption and may be liable for tens of thousands in capital gains tax. Some limited exemptions apply for “life events” as well as property purchased before 7:30pm (AEST) 9 May 2017 and disposed of before 30 June 2020.
Click to read our article: Foreign residents and main residence exemption (3.61MB PDF)