AJinOZ

Thank you. We had agreed that they only do the CGT calculations but not the actual return.

We sold our UK rental property and paid our CGT tax in the UK and had a tax agent calculating our capital gains for our Oz tax return. We filled this all in on the ATO online Mytax site, but are now at a loss as to where to record the UK tax we had paid. It is already adjusted ( we can only claim 50%) and below $1000. Our tax agent said to put it into box 20 O on the paperform, but no one including the ATO hotline seems to know where to record it in the online version. I came up with the idea to record it under "foreign income" - "other income", label it UK TAX CAPITAL GAINS but write in the gross income box 0$ (as the income is already recorded in the Capital gains section) and then record the actual UK tax in the foreign income tax box that is underneath. Does anyone know whether this is correct or is there another way?

Thank you!

Hi, we just sold our buy-to-let property in the UK. Unfortunately, it took us a while and whilst it was up for sale, our tenant moved out. So for several months before completion, the place was empty and but we still had to pay the mortgage, rates, insurance etc. When looking at the capital gains tax calculator for our CGT return in the UK, there doesn't seem to be an option to claim those costs. Does anyone know if we could claim any of that?

Thank you. That makes sense, although it is shame we missed out on the FX loss!

Hi, My husband owns an investment property in the UK that he bought in 2006 for 106,000 pounds. We immigrated in 2009 to Australia and are thinking of selling it soon, hopefully for 130,000 pounds. So, given that the sale price would be higher than the purchase price in pounds we were expecting to pay Capital Gains Tax in Australia. However, we are wondering what exchange rates will be used, because the exchange rate on the date of purchase was a lot higher than it is now at the time of sale. Value of the property in 2006 in Aus dollars = 262,880, expected value on sale this year in Aus Dollars = 232,600. So, if we use the actual exchange rates on the day of purchase and on the day of sale, we actually have a loss seeing it from an Australian dollar perspective?