Changes to Australian capital gains tax rules for foreign residents

The proposal consists of three elements to “increase the integrity and certainty” of the foreign resident CGT rules, as outlined by Matt Ervin, Alia Lum and Amanda Maguire.

Treasury released a consultation paper on 23 July 2024, in relation to the Australian Government’s proposed strengthening of the Australian capital gains tax (CGT) rules for foreign residents. The proposed changes are substantive and are likely to significantly expand the scope of assets that will be subject to Australian tax. This measure was originally announced in the 2024-2025 Federal Budget. The Government estimates that this measure will increase receipts by $600 million over the five...

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Authors: Matt Ervin, Alia Lum,

Published Date: 26 July 2024