Australian expats to be hit with hefty tax

Pedro Gonçalves
Australian expats to be hit with hefty tax

Australians living and working overseas have until June 30 to sell their family homes or face being slapped with a hefty tax after the government reversed its position for exemptions. A A$581m federal government plan to change capital gains tax arrangements for expats originaly lapsed, but the Australian government is pushing ahead with the changes to the exemption for capital gains tax on main residences. For decades, Australians living abroad have been able to claim the CGT exemption...

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