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Discussion Starter · #1 ·
Hi,

Wondering if anyone can help me . My Husband and I are have moved over from the UK 2.5 yrs ago and are currently on a 457 visa ie. non residents of Australia. The plan is to move back to the UK.

We have our place rented out and would like to sell that before we plan to move back in December 2012, so that we are chain free and can buy a family home quickly. Can we sell without paying Capital Gains?

Does anyone know/recommend a good accountant/tax advisor to talk to discuss this with?

Many Thanks
Louise
 

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Discussion Starter · #3 ·
Hi Louise,

I am an Accountant and may be able to help. What advice do you need?

Just out of interest why have you decided to move back to the UK after 2.5 years..?

Thanks,
Paul
This is some background -

- I have one apartment in my name and my husband has two in his
- we got married in 2009 shortly before coming to Australia
- My husband came out in Sept 2009 and I came in June 2010
- we have recently done separate UK tax returns on the rental income from our properties
- we wish to sell one of the apartments in my name this year and come back to the UK to live either at Christmas or early next year
- the apartment we wish to sell has been rented out since before my husband came to Australia (I need to confirm the dates)

We would like to confirm whether we would be subject to Capital Gains Tax if we did sell this year? Is there a time period in which we need to have sold? i.e. 3yrs? Is that period related to the time we have been out here or the length of time the apartment has been rented?

Thanks
Louise
 
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