Hi all
I own a 3 bed house in Cairns that i built myself in 1992 which i lived in until leaving Oz in 2002.i am now a resident of Nz, for tax purposes mainly.I still file a return in Oz as i have the above property plus another.
The 3 bedroom house has been rented since 02 and i would assume i would be up for CG tax from that time.I have heard that if you are overseas you have a number of yrs before they start calculating CG tax if you intend to return.Is this true?
Also if i keep this house and don’t return do i oneday lose my ten yrs of taxfree growth? ( it”s a bitch considering 02 to 04 probally grew more than the previous 10 yrs)
Why i worry about that is i already get taxed at 49% from the first dollar cos i’m now a nz tax resident.
cheers. Queenstowner
You must be logged in to reply to this topic. If you don't have an account, you can register here.
