Australia Law

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Related Australia Law Questions
If i am a non tax resident in australia and have sold
hi if i am a non tax resident in australia and have sold australian shares, will i pay tax on those? … read more
Leon
Leon
Solicitor
Master's Degree
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I want to communicate with an australian lawyer to ask about
i want to communicate with an australian lawyer to ask about capital gains tax issue. If i get a 188b provisional visa, i know that i do not need to pay capital gains tax on sale of my hong kong property. however, if i finally get the 888 permanent residency status visa and then sell my hong kong property, how will the australian tax authority tax me on capital gains tax, do they calculate capital gains tax based the difference i) between the market value i sell it minus the property cost when i first purchased it, which may be more than 10 years ago or ii) the market value i sell my hong kong property minus the market value at the point when i am officially granted the 888 permanent residency status? In other words, how do they assess the cost basis of my Hong Kong property when it is sold for capital gains tax purpose? … read more
John Melis
John Melis
Lawyer
Bachelor's Degree
18,693 satisfied customers
Not sure if you can help. I want to know how much capital
Hi not sure if you can help. I want to know how much capital gains tax (south Australia) you would pay on an inherited house value approx $300,00. If you sold it after Deceased been dead for 2 years … read more
John Melis
John Melis
Lawyer
Bachelor's Degree
18,693 satisfied customers
My wife and I are both Australian born citizens (holding no
My wife and I are both Australian born citizens (holding no other) now continuous residents of New Zealand for about 46 years. In 1968 we purchased vacant residential land in Western Australia. We pur… read more
John Melis
John Melis
Lawyer
Bachelor's Degree
18,693 satisfied customers
A. I am an Australian citizen formally from NZ. I own a
I am an Australian citizen formally from NZ. I own a small NZ beach house purchased & built in about 1974. I want to sell the freehold property & bring the money back to Australia. The property would be worth approx NZ$250K. What will the ATO require from me & will there be any Aus tax implications. NZ has no current CGT laws I believe. I am 62 & retired.Thank you Gary … read more
Leon
Leon
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Master's Degree
52,145 satisfied customers
Just wondering how to work out capital gains tax on our
hi just wondering how to work out capital gains tax on our property please . … read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
I inherited my mother's half of a property upon her death in
I inherited my mother's half of a property upon her death in July 2009. My father passed away in October 2014. My brother, my sister, all trustees, have had conflicts concerning the sale of the proper… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
hi we have our old family home in the uk ,it has been let out
hi we have our old family home in the uk ,it has been let out periodically for the past 12 years,if we sell how much tax would we be liable for if we brought the money over here,or possibly use the eq… read more
James D. Ford
James D. Ford
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1,600 satisfied customers
A 15 yr old girl and her 17 yr old brother are NZ and Australian
A 15 yr old girl and her 17 yr old brother are NZ and Australian citizens living in Melbourne. They are beneficiaries under a NZ Family Trust. The Trust pays their school tuition fees. If they take th… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
Continue with the question with more information: We are three
Continue with the question with more information: We are three brothers the eldest and myself, the youngest, living in Australia. The middle one lives in NZ. These are the facts; -A discretionary Trus… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
Re Capital gains tax 1. My wife and I jointly owned a property
Re Capital gains tax 1. My wife and I jointly owned a property which we sold early this year for $300,000. 2. The property was purchased for 132,000 in 1992. 3. Prior to the sale we spent $30,000 repa… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
I was married at the time of my ex husbands father passing
I was married at the time of my ex husbands father passing away. He lives in NZ - we seperated physically but not on paper 2 1/2 yrs ago. he died 4 years ago. He has left a substantial amount of money… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
If you sell a realestate property in Australia for less than
If you sell a realestate property in Australia for less than it has been valued by a realestate registered valuer does the Australian Tax Office require you to pay capital gains tax on the difference … read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
I have just built a home which I will be unable to afford to
I have just built a home which I will be unable to afford to live in. Its Market value is $365,000 (AUS). I have a mortgage on it of $200,000. I have decided to sell it to my brother for $1.00 and he … read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
An unmarried couple live in her house in England for a couple
An unmarried couple live in her house in England for a couple of years and have a child. During this time they buy a residential property in Australia and rent it out. They never live together in Aust… read more
Brisbane-Lawyer
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
My father died in 1991. I and my 4 siblings each received 10%
My father died in 1991. I and my 4 siblings each received 10% of the value of the estate (made up entirely of Australian shares. The other 50% remained to support my father's second wife till her deat… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers
My mother died leaving her share of the family home between
My mother died leaving her share of the family home between 3 siblings as tenants in common. If the house was sold, would it incurr capital gains tax? Only one sibling resides in the home. Should we d… read more
Brisbane-Lawyer
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
I bought my home (my principal place of residence) before September
I bought my home (my principal place of residence) before September 1985. Iintend leaving the home in mywill to a recognised charity. Will my estate or the charity be liable for capital gains tax when… read more
Leon
Leon
Solicitor
Master's Degree
52,145 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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