BenK

I am a UK passport holder living as permanent resident in Australia. I am selling shares in a private company I was a founder of in the UK. Can anyone tell me what CGT I will have to pay and in which country? Also, if I pay the CGT in the UK and then keep the money over there does it mean I avoid getting hit for CGT in Australia?

Thanks Allan, extremely useful. Can anyone please help me with this: I read somewhere that for residents in Australia the ATO considers a UK owned property as your primary residence for the first 6 years you are resident in Australia, as long as you have not purchased a house in Australia in the meantime. Which means that the capital gains tax would be applied at the same rate a primary residence in Australia would suffer from. Have I got this right? Thanks, Ben

Hi Alan, I was recomended to contact you from some other peole on this site. I have two UK tax related queries I am hoping you can help me with. To start with you should know I am a PR and my wife has dual UK/Australia nationaility. We own a UK investment property, 50:50. We are considering selling in the New Year and wondered what the tax implications are and if there is anything we should do in advance to lessen the blow, we are not in a mad rush. My second query is that my wife and I are shareholders in a private UK business and they want to buy our shares back. Everything we receive will be profit as I was awarded the shares when the business was launched (I subsequently passed over 50% of them to my wife). How can I pay as little tax as possible on these? Thanks in advance for any help you can provide. Regards, Ben