Non-residents lose 50% CGT discount

Accounting jobs north shore sydney
December 10, 2015
New tax law from 1.07.12
December 10, 2015

Non-residents lose 50% CGT discount

As of 8 May, 2012 the government removed the ability for non-residents to be able to claim the CGT discount post 8.05.12.

As such, it would be prudent to obtain a market valuation of cgt assets such as real estate at 8 May, 2012, as they shall be entitled to a CGT discount until this date.

Careful planning would also be needed around selling, particularly if you are planning to return to Australia.

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