Skylar

Thank you very much for that Philip. A lot of info to absorb. We could possibly move to Republic of Ireland so will look into that as well. Thanks again!

No sure how to edit my last post, new to here. I do understand we'll need to seek professional advice but just wanted to get some idea at this stage to ease my mind, thank you!

Hi We are hoping someone can give us some insight on the best things to do to reduce the amount of the CGT in UK and Australia if we decide to sell our property/ies in the UK. We are hoping to buy our own place here in NSW but unsure how much CGT will be. - Bought our first house which was derelict at the time mortgage free in Nov 1998 in England, lived there from 3 March till 18 September 99 while renovating it, rented out since 19 September 1999. - Bought 2nd house (main residence) in England on 18 April 2000 and lived there till June 2007 (renovating it from April 00 till July 2001 while living there) it has been rented out since we moved to Australia, paid off the mortgage in Sept 2010. - Moved to NSW in June 2007 with a skilled visa. Became AU citizens on 26 Jan 2010 - Our UK main residence has been rented out since July 2007 - both UK properties in joint names - have been filing tax returns on both rental income in both UK and Australia. - we have been renting since we arrived in Australia in June 2007 and do not own a property in AU My questions are: 1) How best to reduce our CGT, I believe we cannot claim a 100% exemption on our UK main residence as we have been in AU and not living in our UK property? Possibility to have them gifted to children? 2) We are considering moving back and working in the UK for a year or two. If we move back to UK to our main residence for a period of time, would we have 100% CGT exemption again, and if so how long would we need to live in the property before selling it? 3) If we remain in Australia we would like to buy our own home here rather than continue renting. How do we workout the percentage of CGT in Australia and/or UK we’ll have to pay if we sell 1 or both UK properties? Thank you for any help in advance.