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Garrier

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  1. Hi Myself (a permanent resident since 2011) and my partner (a temporary 457 resident since 2017) would like to sell our U.K. home which we bought in 2015 and lived in for just over 2 years until we went down under in 2017. We have rented our property out (with numerous items still in the shed) and are now looking to sell it. We also have been since renting in Sydney and have not bought anywhere else. My question is, before we make any decision to tell our tenants we are selling, will be have to pay Capital Gains tax in Australia on any increase in value of our home both as me being a permanent resident and my partner being a temporary one ? I know there is a 6 year rule on main residences (which I think this would qualify as) but am unsure as to whether both of us could avail of it being on different visas. I understand the U.K. system as we know we will also be liable there also (I believe there will be no charge if we sell before April 2020). Once we have the answer to this question we can therefore start the sale process, we would then like to find a competent tax advisor who can submit all our forms to the relevant tax authorities and that can minimise any tax to be paid. Thanks in advance.
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