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Who is a Foreign Resident?

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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We are here to help. Please contact our office should you require any assistance. See also: OWNit Conveyancing frequently asked questions.

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To learn more about PEXA Settlements, contact OWNit Conveyancing on 1300 553 750.