JonathanD

'Thanks for your feedback - another question is if we switched to a 'buy to let' mortgage due to our lender not allowing a residential mortgage anymore even though it is the property that we lived in for many years before emigrating would this still be exempt from capital gains in Australia under their 6 year rule. UK Capital gains would be another thing to think about!

Not so easy in the £1.5M bracket!

Thanks Simon for your reply - I was referring to CGT in Australia?

I hope somebody can help us regarding selling property in the UK? We have been trying to sell our property for 2 years now with several price drops. Our 5 year PR visa is due to expire at the end of this year so will need to set off soon and rent out our house if still not sold. If we sold in say 3 years from now whilst a Permanent Resident in Australia under their tax rules which I believe they tax worldwide, would we be liable for Capital Gains Tax on the profit made on house sale (if any) considering this is our residential property and not an extra investment as such. I understand that any profit from rental would be taxed but surely not on final sale as CGT?