In Depth: The race to beat Australia's capital gains tax deadline

Thousands of Australian expats have until 30 June to sell their family homes or face being slapped with a hefty tax after the government reversed its position for exemptions. Pedro Gonçalves reports. The exemption for Australian expatriates has been available since 20 September 1985, and was applicable so long as the home was rented out for no more than six years at a time. However, CGT tax exemption on their family home is to be scrapped under the A$581m federal government plan. It is estimated that the change will hit the wallets of up to 100,000 Australians working overseas. It means...