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Where Taxpayers and Advisers Meet

Residency for CGT (property)

GS1992
Posts:1
Joined:Wed May 22, 2024 2:25 am
Residency for CGT (property)

Postby GS1992 » Wed May 22, 2024 2:58 am

Hi all,

I'm currently in the process of filing CGT following the sale of a rental property in the UK (May 2024).

I'm having some difficulty trying to ascertain what country I am a resident of (for tax purposes), following a move to Australia in November last year.

Whilst I have been in Australia for over 183 days (as per residency test), I am under the belief that I am not strictly a tax resident in Australia as I remain on a temporary visa (working holiday visa). However, given the extent of time I've been outside of the UK, and that I've recently been approved as a non-resident landlord - I can't imagine I am classed as a UK resident either.

Has anyone had experience in determining the above?
Are there any implications for residing in Australia (e.g. do I have to report CGT in both UK & Aus!?)

Any advice would be very much appreciated!

Thanks
G

bd6759
Posts:4313
Joined:Sat Feb 01, 2014 3:26 pm

Re: Residency for CGT (property)

Postby bd6759 » Thu May 23, 2024 10:40 pm

CGT is payable in the UK. You have 60 days to make a return of the gain.

You’ll need to apply the rules for the statutory residence test to determine if you are UK resident.

https://www.gov.uk/government/publications/rdr3-statutory-residence-test-srt


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