Legislation to deny non-residents CGT main residence exemption not proceeding

The bill lapsed at the end of Parliament, meaning the proposed changes will not proceed.

Australian expatriates can now rest easy, at least for the time being, as the bill proposing changes to the capital gains tax (CGT) main residence exemption has now lapsed.The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018 had been stuck in the Senate since March 2018 and included proposed changes that would have denied the CGT main residence exemption for non-residents on sales occurring on or after 1 July 2019.  It would have also applied ...

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Authors: Mardi Heinrich, Daniel Hodgson,

Published Date: 03 July 2019