01 June 2017
The Bill to implement part of the Budget measures (CGT) was introduced yesterday. The measures will only prevent foreign tax residents from claiming the CGT main residence exemption, and not temporary residents.
New Zealanders residing in Australia are generally not foreign residents, and therefore not captured by the proposed changes to CGT. Please seek financial advice to confirm your tax liability when selling property.
23 May 2017
New Zealanders with homes in Australia could be stung almost 50 percent capital gains tax when they sell their home, under new Budget changes; meaning many will be starting to think about moving back to NZ, according to the Oz Kiwi Association.
[Read the Radio NZ article].