Hi Mark, is there a timeframe required to settle back in the property to restart the 6 year absence rule? Would one month be sufficient.

I am planning to move back home and look for work but not sure how many jobs are available in my home towns so may need to extend the search and potentially look interstate if I am not able to find work in…[Read more]

Thanks Mark!

Thanks Mark, Do I have to move back into the property or is it enough to be residing in Australia as a resident at time of sale to get the CGT exemption.

Also, if I move back become a resident then sell but I was an expat for > 6 years, do I still get the 6 year exemption for those 6 years I was away? Am I safe to assume the 6 year rule is still…[Read more]

Thanks Mark, so if I move back and become an Australian resident I will get the CGT exemption?

Do I have to move back into the property or is it enough to be residing in Australia as a resident?

Also, if I move back become a resident then sell but I was an expat for > 6 years, do I still get the 6 year exemption for those 6 years I was away? Am…[Read more]

Yeh but why are they rushing to sell? If they can move back in and then get the CGT exemption why are the articles suggesting everyone is rushing to sell? It is no different to before if they are truely expats looking to move back and become residents again – unless of course I am missing the point?

Before the rule change if they lived in the house for 15 years then moved overseas, as long as they were non resident for < 6 years, they could have sold whilst overseas and paid no CGT? Is that the key change?

I am only asking because i am an expat and want to understand if I am mising the key point.

I am planning to move back to australia eventually like most expats do. On the basis it truely is my PPR then it souldnt be an issue as long as the 6 year exemption rule still applies. If the 6 year rule no longer applies thne that is a BIGG change.…[Read more]

I am only asking because i am an expat and want to understand if I am mising the key point.

I am planning to move back to australia eventually like most expats do. On the basis it truely is my PPR then it souldnt be an issue as long as the 6 year exemption rule still applies. If the 6 year rule no longer applies thne that is a BIGG change.…[Read more]

I am only asking because i am an expat and want to understand if I am mising the key point.

I am planning to move back to australia eventually like most expats do. On the basis it truely is my PPR then it souldnt be an issue as long as the 6 year exemption rule still applies. If the 6 year rule no longer applies thne that is a BIGG change.…[Read more]

but if you return to australia and sell and you have been away for more than 6 years do you get the 6 year exemption for that period you have been non resident?

https://www.domain.com.au/news/sydney-homes-of-expats-hit-the-market-to-beat-looming-cgt-deadline-928963/

The above article says

“An Australian Tax Office spokesman said home owners were able to claim the exemption if they sold the property before June 30 or returned to live in it before it was sold.”

So if you move back in to Australia…[Read more]

https://www.domain.com.au/news/sydney-homes-of-expats-hit-the-market-to-beat-looming-cgt-deadline-928963/

The above article says

“An Australian Tax Office spokesman said home owners were able to claim the exemption if they sold the property before June 30 or returned to live in it before it was sold.”

So if you move back in to Australia…[Read more]

My accountant didn’t know either…

Anyone else got any further thoughts on the situation?

Does the 6 year rule still apply if you return back and live in the property and become australian resident?

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is an example situation:

1. house purchased in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is an example situation:

1. house purchased in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

Hi Terry,

Bringing this topic back given I have seen there have recently been changes for expats.

Has the 6 year rule been abolished for expats or is this only if you sell your property whilst resident overseas.

Here is my situation:

1. I purchased a house in October 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for…[Read more]

?

just read the whole act.

The rules need to be registered on title if the owners corporation has its own rules.

Ours has not set its own rules and therefore the Model Rules seem to apply

Schedule 1 outlines

5 Lots

5.1 Change of use of lots.

5.2 External appearance of lots.

5.3 Requiring notice to the owners…[Read more]

https://www.consumer.vic.gov.au/housing/owners-corporations/property-maintenance/maintaining-and-renovating-individual-lots

As a lot owner in an owners corporation (formerly body corporate), you:

are entitled to renovate or refurbish the interior of your apartment or unit. You must notify your owners corporation if the renovations require a…[Read more]