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CGT for non-residents

Discussion in 'Accounting, Tax & Legal' started by wpgoh, 27th Apr, 2010.

  1. wpgoh

    wpgoh New Member

    Joined:
    27th Apr, 2010
    Posts:
    2
    Location:
    Qld
    I understand that Capital gain tax is payable on investment property and not residential property, though at different tax rate depending on individual tax bracket. However, i would like to know whether non-residents taxpayer need to pay capital gain tax on the residential property that she is staying in.
     
  2. Superman

    Superman Well-Known Member

    Joined:
    6th Nov, 2007
    Posts:
    343
    Location:
    Gold Coast, QLD
    If it is the tax payers principal place of residence then no (i.e. the person living in the property is also the owner of the property).

    CGT only applies if the property is rented out.