Australian tax query
Question from Chris Howes updated on 5th April 2010:
I am an Australian tax resident and a New Zealand citizen. I have 2 properties in NZ which I have to sell and with the proceeds I intend to buy outright a retirement house back in NZ. I would like to know how long one has to be back in NZ as resident so as to avoid the capital gains from the Australian tax office? What asset protection is available in this case for my retirement property? Many Thanks.
Our expert Mark Withers responded:
Hi Chris,
Our Tax expert Mark Withers has declined to answer your question as it is based around the incidence of Australian capital gains tax.
He suggests you should contact an Australian tax advisor in Australia to seek some advice on this.
Thanks for using Landlords.co.nz.
Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.
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