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Becoming a resident

Last updated 3 March 2016

If you become a resident you are taken to have acquired certain assets – specifically, those that do not have a necessary connection with Australia – at the time you become a resident. You are taken to have acquired them for their market value at that time.

The general rules apply to any assets that had the necessary connection with Australia (for example, land in Australia) when you became a resident.

QC27527