CGT for non tax residents

[Moneypenny]

Hi, I am new to this forum and would appreciate your views on the subject of CGT on properties owned by non-tax residents. I left Oz 10 years ago and currently live in Singapore. I own a few IPs in Australia and would like to sell a property in Melbourne which has pretty low yields and which gives me endless problems with repairs. If I sell the property and realise the profit while living overseas, what would the tax liability be? Would it be based on the non-resident rate? Thanks!

 

[julia]

Yes taxed at non residence rates on normal CGT calculation but if the other properties have been running at a loss that you have been carrying forward then you can offset this loss against the Capital gain after reducing the gain by the discount if applicable.
Consider putting the gain into superannuation where it will only be taxed at 15%