Hi there guys, can you help?

We are moving to Melbourne this month but our UK house sale has just fallen through. If we go before we sell the house will we have to pay capital gain tax in Australia when we do sell it and how is this calculated?

We are planning for my OH to come back next month so he can oversee the house sale and work here earning British pounds to cover the UK mortgage, so he won't have moved over properly yet, will this make a difference?

Hope this makes more sense to someone out there (Alan??) than it does to me.

kind regards all

Debs

If your house sale is the sale of your normal place of residence then you will not be subject to capital gains tax in Oz irrespective of whether it is sold before you come to Oz or after you leave. (well as long as you do it within 6 (?) years of leaving).

Thank you Colin