Gharry

Hi everyone, I’m wondering if anyone is able to assist me with a question regarding capital gains tax liabilities in UK and Australia. We have been planning our move back to Sydney at start of Sept 2023 for some time now - all was going well with house sale & pet transfer all aligning, however after a couple of months our buyer pulled out of our house sale. We have thankfully found another buyer for our house however I ( with my children) will now need to move to Sydney before the house sale has gone through. My husband will wait in the uk until contracts have been exchanged. I’m just worried about the cgt on our house sale in the UK. I am an Australian citizen with an Australian passport and my husband has a permanent resident visa. I’m continuing my UK job role (from Australia) until the end of the year but I believe I will be considered an Australian tax resident as soon as I arrive in Australia? my question is, will I/we be liable for cgt in either Australia or the UK on the sale of our UK home? We have lived in it continuously since 2015 when we bought it, and in Australia will be staying with family until we secure a rental. Any advice or similar experiences would be greatly appreciated. I do plan on getting advice from a tax expert but just hoping someone will be able to put my mind at rest for now. Many thanks!

That’s great, thank you!

Hi woodymelbourne I found your posting from March and wondered if you have any information on foreign assets & foreign income when applying for an Australian mortgage. My husband and I are Australian and Australian permanent resident. We are moving back to Australia in Aug23 after 15 years. Our uk house doesn’t have a mortgage and will be rented out but I was wondering if the income from our UK rental and the equity in our UK house will be considered when applying for a mortgage in Australia? Appreciate any information you may have. Many thanks Genene

Hi Rawkus I just come across your post, I was just searching for an answer to the same question and wondered how you got on with your sale? Our house sale looks like it may fall through just before we’re ready to leave so we are going to rent it out for a little while and sell at a later date but I was wondering about the capital gains tax we would need to pay. I am going to get some advice from a UK/Australian tax specialist but wondered if anyone else had a similar experience that they could share. Many thanks G

Just wondering if anyone has been granted a return resident visa recently and how long it took after application. My husband applied for his a couple of months ago and even though I’m confident he will receive it (Australian wife & Australian children) I’m not sure what the timeline is for these types of visas. Last time he applied it only took a week! But with a lot to sort out I would be interested in other peoples recent experience. He has only been to Australia for a holiday in the last 5 years so doesn’t meet the super speedy 2yr criteria.