Calls grow for delay to Australian 'expat residence tax'

Pressure is growing for the Australian government to extend its deadline for a recently introduced expat residence tax, with many Australian expats now struggling to sell their properties ahead of the June tax deadline in order to avoid a heavy capital gains tax. Under the legislation, Australians overseas who have not sold their family homes by June 30 will be hit with capital gains tax — regardless of whether the home was rented out or left vacant — and the tax bill would have dated back from the time the owner purchased their home, not the point at which they moved overseas. Howeve...