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OK if property purchased pre Sept 1985 CGT won't apply regardless of residency status as teh asset is a "pre CGT asset". If purchased after Sept 1985 but before Sept 1999 and sold after this new proposed legislation in relation to expats comes into effect (8 May 2012) the taxpayer can elect...

It seems they will still accrue the 50% discount up to now then lose it going forward for properties owned since 1985

Probably won't affect them either as most would be exempt under the 6 year CGT exemption rule unless the government has abolished that as well.