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anna&steve · 23-04-2007, 07:04 PM

Hi, Steve here. Once the house is sold, there will be proceeds which will hopefully be used to fund a house purchase in Oz although the plan is to rent initially. I'd heard in the UK that you would be liable to Capital Gains Tax unless funding another house purchase in the UK (not sure how true that is). However, could Mr. Brown (or whoever might be the Chancellor at that time) get his grubby hands on any of these proceeds (we're tripled taxed on everything else!!!) as you are effectively taking the money out of the country. I've had proceeds from house sales before in an account for a few months before using the money to fund a house purchase here & have not had any issues? I'm sure many of you have now used proceeds to buy in Oz, how did you go on with that? Any advice very welcome & I hope if you're already over there it's going well! Regards, Steve.

23-04-2007, 07:04 PM	#1 (permalink)
anna&steve Junior Member Join Date: Feb 2007 Posts: 9 Thanks: 0 Thanked 0 Times in 0 Posts	Proceeds from UK House Sale Hi, Steve here. Once the house is sold, there will be proceeds which will hopefully be used to fund a house purchase in Oz although the plan is to rent initially. I'd heard in the UK that you would be liable to Capital Gains Tax unless funding another house purchase in the UK (not sure how true that is). However, could Mr. Brown (or whoever might be the Chancellor at that time) get his grubby hands on any of these proceeds (we're tripled taxed on everything else!!!) as you are effectively taking the money out of the country. I've had proceeds from house sales before in an account for a few months before using the money to fund a house purchase here & have not had any issues? I'm sure many of you have now used proceeds to buy in Oz, how did you go on with that? Any advice very welcome & I hope if you're already over there it's going well! Regards, Steve.