PomsInOz Forum - View Single Post - Keep house proceeds till exchange rates go up?

spock · 14-05-2008, 10:57 PM

I think I read something in the dim and distant past, but I can't find it - can anyone help?

Since the exchange rates are so bad, I'm considering renting out my house and selling later, or selling and then keeping the funds in the bank for a couple of months.

OK. What is the Australian position on capital gains tax concerning this?

I don't believe I would be taxed on it if I took it over with me (at about the same time), but what about if I change it a few months down the line. Will it suddenly be considered capital gains?

Anybody know?

Thanks,

James.

14-05-2008, 10:57 PM	#1 (permalink)
spock Senior Member Join Date: Feb 2007 Location: Geelong, VIC Posts: 197 Thanks: 0 Thanked 1 Time in 1 Post My Mood:	Keep house proceeds till exchange rates go up? I think I read something in the dim and distant past, but I can't find it - can anyone help? Since the exchange rates are so bad, I'm considering renting out my house and selling later, or selling and then keeping the funds in the bank for a couple of months. OK. What is the Australian position on capital gains tax concerning this? I don't believe I would be taxed on it if I took it over with me (at about the same time), but what about if I change it a few months down the line. Will it suddenly be considered capital gains? Anybody know? Thanks, James. __________________ James, Jo, Elliot(14), Jake(10), Lewis(9) Living in Highton and loving it!