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Does the same logic/rule apply for real estate ? If you buy an OZ Investment property, whilst overseas, are you deemed to have acquired property at the market value at the date of return(ie no 50% CGT discount for another 12 months) ? Apart from a valuer, who else would be deemed...

What happens about CGT if you buy shares in the country you work in as a resident of that country . Return to Australia , and then sell a few years down the track as a resident of OZ. you sell the shares at a 1 loss 2 capital gain

That being the case the foreign exempt income is irrelevant if there is a double taxation agrement. You must not be covered by a double taxation agreement. Is that the case. I am finding it a little difficult to pin down your circumstances

What ?????

Ralph if you were a non resident of Australia are you saying in your case you were living in Australia,earning a salary in Australia , but not taxable by the aussie Govt , because your salary was being taxed by a foreign govt. On what basis did you claim non residency? note my location.