Guest kev and del Posted June 3, 2009 Share Posted June 3, 2009 Wondered if anyone out there can help???? We have rented out our house in the UK and also have an investment flat in the UK. At present we are renting in Oz and are happy to continue for the time being but we are considering buying an investment property to renovate and rent out. My question is if we purchased a property in Oz to rent out would that then mean we would have to pay capital gains tax on both of our properties back in the UK? My understanding is once we buy in Oz that would then be classed as our main residence, but don't know how it works for investment. Please can someone help a very confused pom? :realmad: Link to comment Share on other sites More sharing options...
Guest Liam Posted June 3, 2009 Share Posted June 3, 2009 The new house in OZ only becomes your main residence if you actually live in it for a periodand if you then elect it to be so. As you are not going to live in it I believe you do not have the option to elect for it to be your main home anyway. So you can still claim the UK house as your main residence for the CGT concession for up to 6 years after leaving it. If you decide to live in the property here then you must decide which property is to be classed as your main residence. best wishes Liam This is general advice only and your particular circumstances may be different. Get some personalised advice before acting on any recommendation on a public forum. Link to comment Share on other sites More sharing options...
Guest kev and del Posted June 4, 2009 Share Posted June 4, 2009 Thank you Liam I will look into this in more detail. Feel like confused.com at the mo. Del Link to comment Share on other sites More sharing options...
Alan Collett Posted June 8, 2009 Share Posted June 8, 2009 First question - what is your visa status? {Link Removed} Best regards. Link to comment Share on other sites More sharing options...
Guest Tim Posted June 8, 2009 Share Posted June 8, 2009 First question - what is your visa status? {Link Removed} Best regards. Alan - you have been here long enough to know we are not an advertising board for pushing your paid factsheets. Tim Link to comment Share on other sites More sharing options...
Alan Collett Posted June 8, 2009 Share Posted June 8, 2009 They are free, Tim ... Best regards. Link to comment Share on other sites More sharing options...
Guest Tim Posted June 8, 2009 Share Posted June 8, 2009 my apologie, however you do charge for more than 5.... do you not? You could always pload oneas anattachment here for all to use since its free..... Link to comment Share on other sites More sharing options...
Alan Collett Posted June 8, 2009 Share Posted June 8, 2009 The OP appears to be after advice that is available in a couple of our factsheets, not 6 or more, Tim. I'll let it go. I will though say that I'm starting to feel unwanted around these parts. Maybe we/you should see how users fare without the input of those of us who have acquired years of knowledge, and instead have to rely on the views of those who claim to be experts after 5 minutes. Fit of pique over - its been a long day. Best regards. Link to comment Share on other sites More sharing options...
Guest Tim Posted June 8, 2009 Share Posted June 8, 2009 I will though say that I'm starting to feel unwanted around these parts. Maybe we/you should see how users fare without the input of those of us who have acquired years of knowledge, and instead have to rely on the views of those who claim to be experts after 5 minutes. Just keeping it fair and level for all - its all part of moderating the forum and inline with the rules by which the forum is run. The good and the bad. Link to comment Share on other sites More sharing options...
Alan Collett Posted June 8, 2009 Share Posted June 8, 2009 OK - understood. I know that forum management is a tough gig at the best of times. The offer of a free factsheet or two didn't seem to breach too many rules though (if any). Time for bed! Speak soon, Tim. Link to comment Share on other sites More sharing options...
Guest Tim Posted June 8, 2009 Share Posted June 8, 2009 OK - understood. I know that forum management is a tough gig at the best of times. The offer of a free factsheet or two didn't seem to breach too many rules though (if any). Time for bed! Speak soon, Tim. As I say - feel free to attach them to a forum post should you wish and then everyone can use them... :wink: Have a good night - no doubt see you tom. Link to comment Share on other sites More sharing options...
Guest kev and del Posted June 20, 2009 Share Posted June 20, 2009 Hi Alan you asked what our visa status is. We have been living in Oz since Feb 09 and have permanent residency. Any help I would appreciate. Del Link to comment Share on other sites More sharing options...
Guest bentkitty Posted June 22, 2009 Share Posted June 22, 2009 The OP appears to be after advice that is available in a couple of our factsheets, not 6 or more, Tim. I'll let it go. I will though say that I'm starting to feel unwanted around these parts. Maybe we/you should see how users fare without the input of those of us who have acquired years of knowledge, and instead have to rely on the views of those who claim to be experts after 5 minutes. Fit of pique over - its been a long day. Best regards. Alan pls dont leave the forums, there are too few agents here as it is and your information is always hugely valuable !!! Link to comment Share on other sites More sharing options...
Guest Scamp1976 Posted June 22, 2009 Share Posted June 22, 2009 If you live longer than 9 months in a house then it automatically becomes your main residence. Whether you rent it or own it won't matter. Link to comment Share on other sites More sharing options...
Alan Collett Posted June 23, 2009 Share Posted June 23, 2009 If you live longer than 9 months in a house then it automatically becomes your main residence. Whether you rent it or own it won't matter. Sorry ... where in the tax legislation does it say this ... and what country's tax system are you referring to? Best regards. Link to comment Share on other sites More sharing options...
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