Non residents

From: Tom Cleary

Can any one advise on the following
A friend from Singapore wants to purchase a property in Melb for his two children who will be studying at uni for the next few years.
What is the situation re Capital gains tax if he decides to sell after they finish their uni.
Is it regarded as their residence and therefore CGT exempt or is there different rules for non residents.
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Reply: 1
From: Les .

G'day Tom,

Visit the site - it is a very easily read site that will likely provide an answer for your friend.

And, would you please post the answer when you find it? Thanks,


- "Eschew Obfuscation" - ;^)
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Reply: 1.1
From: Jeremy Laws

Be clever - may be no problem at all. ESP since you mentioned SIN.
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Reply: 2
From: Michael G


About the only thing that foreigners are restricted to buying brand new properties, all gains they keep.

Might be a good way to get into either;

a) an off the plan purchase, that is if the completion date is suitable.

b) do a development or syndicate.

As far as I know, check out the foreign review board website (dont know it) for more details.

Michael G.
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