Non-residents and the loss of the main residence exemption

Do you have a client that owns a main residence in Australia and is now a non-resident?

Do you have a client that owns a main residence in Australia and is there any possibility that that client will become a non-resident of Australia in the future?

If you answered "yes" to either of these questions, this webinar is essential listening.

The legislation removing the CGT main residence exemption from non-residents is now law and in operation. In many circumstances it can cause large (often unexpected) tax liabilities to arise if a non-resident disposes of their Australian main residence.

In this webinar you will learn:
  • The key transitional dates
  • Why large unexpected tax liabilities can arise
  • Why deemed disposal at market value of a main residence is NOT applicable
  • The complex rules of how the 50% discount interacts with this new legislation
  • Why non-residents will not be able to use the absence concession
  • What are the exceptions to the law, particularly, who are "excluded foreign residents" and what are the "life events" that can exempt a non-resident from the operation of the new law.
  • What happens on the death of a main residence owner who is a non-resident
  • What happens for non-resident beneficiaries of a deceased Australian resident main residence owner.
Webinar participants will be able to download the full Tax & Super Australia "In Depth" topic notes in PDF format as well as the presentation slides accompanying the webinar.  The "In Depth" topic notes will cover more than what is discussed in the webinar presentation. 

Date: Tuesday 15 December 2020 
Time: 12:30–1:30pm AEDT 
Format: Recorded webinar
Price: $95 for members | $145 for non-members


Presented by TSA Tax Counsel John Jeffreys 

          

John regularly advises our members in how to work with Australia’s tax and super laws. With over 35 years’ experience – including as a business owner and tax partner in two large firms – John is also a seasoned public speaker and commentator on tax topics, prepares submissions on tax issues, and discusses tax matters at senior levels of the ATO and Treasury.
When
15/12/2020 12:30 PM - 15/12/2020 1:30 PM
Where
Online - Recorded webinar, Australia

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