• Becoming a resident

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Special capital gains tax rules apply to assets you own when you become a resident of Australia. You are taken to have acquired the assets at the time you became a resident. This rule does not apply to assets you owned before 20 September 1985 or that have a necessary connection with Australia. Some examples of assets that may have a necessary connection with Australia are land or a building in Australia, a share in a company resident in Australia and a unit in a resident unit trust.

    Last modified: 18 Sep 2009QC 18323