brlund007

Maryrose: Thanks for your helpful story and I sympathise with the difficulties you've faced in dealing with bureaucracies. I'd be very interested to know how you manage with creating a CGT account. When I had problems with the ATO I phoned and was surprised by the helpfulness of the person I (eventually) contacted. Waits can be long enough to read a novel (or even write one). I've written to Alan Collett asking for professional help by the way. Good luck with your efforts.

I'd like thank people who replied to my query about CGT payable by Australians when selling UK property. Quick answers to questions are -- we didn't live in the UK property at all we bought with a mortgage of about 190,000 GBP (now about 220,000) we recognize having to pay CGT in Australia (not UK) we're seeking advice from a recommended tax expert Best regards brlund

My wife is Australian and I became an Australian (from the UK) in 1992. in 2000 we bought a flat to rent out in London UK for 250,000 GBP and we're now selling it and want to figure out how much CGT we'll have to pay in Australia. If we sell it for 750,000 GBP, the gain would seem to be 500,000 GBP, however the UK seems to allow expats to use property value as at April 2015 instead of actual cost. This would make a big difference if it's value in 2015 was, say 500,000 GBP because the gain would then be halved to 250, 000 GBP. Can anyone tell us whether the ATO would allow a valuation based on this April 2015 rule? Grateful for any advice Brlund007