06 Jul Who is a Foreign Resident?
If a Seller lives overseas for a period of more than 6 months in a year and sells their property during that time they may not be able to claim the Capital Gains Tax ‘main residence’ exemption on the disposal of the property even if the property was their principal place of residence before becoming a Foreign Resident. We would recommend that a Seller obtain specialist tax advice regarding whether they are a Foreign Resident before entering into a Contract.
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