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  • Becoming a resident



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

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    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