Double taxation - Real capital gains tax!

I been working abroad for the last 3 years and have been paying the salary tax to the country of income. Thinking of selling my Australian IP to buy a PPOR. The country has double taxation agreement with Australia. As the IP was bought in 2004, it has appreciated in value.What rate would I have to pay capital gains tax, if I need to pay at all?
 
Looking at your location as per your post if your location is Melbourne, Victoria, then you are still in Australia.

Although the double taxation agreements normally follow a standard format, there are likely to be differences between each of them and you should talk to an accountant experienced in your double taxation agreement in Australia and in wherever you are.
 
Looking at your location as per your post if your location is Melbourne, Victoria, then you are still in Australia.

Although the double taxation agreements normally follow a standard format, there are likely to be differences between each of them and you should talk to an accountant experienced in your double taxation agreement in Australia and in wherever you are.

I am posting from overseas, really not in Melbourne for a while. But thanks for your reply.
 
From memory of my situation looking into it a few years ago, you are taxed at the non-resident rate (29% from memory), and don't get the 50% CGT rebate or any tax-free threshold. However, you should be able to claim a foreign tax credit in your country of residence which could reduce your tax liability there, depending on its marginal tax rate.

These significant disadvantages were one reason we held off on developing the block of land from our grandparents until I became a resident again.

Hopefully others can correct my memory if I'm wrong and possibly offer other suggestions, but as jrc said you really should get professional advice (possibly in both countries) before you proceed with anything, as your individual circumstances can affect a lot of the way things are looked at my the tax office, in particular the ruling about whether you are considered an Australian resident for tax purposes (it is possible to have more than one tax residences - each situation has various advantages and disadvantages).
 
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