CGT discount for foreign resident individuals
Up to 8 May 2012, the CGT discount of 50% was available to foreign resident individuals who were subject to CGT on taxable Australian property.
For assets acquired after 8 May 2012, the discount is generally not available to foreign and temporary resident individuals (including beneficiaries of trusts and partners in a partnership).
The discount is apportioned where a CGT event happens after 8 May 2012 and:
- you acquired the asset before that date, or
- you had a period of Australian residency after that date.
If this affects you, use the CGT discount worksheet (PDF 135KB)This link will download a file to calculate the CGT discount you can apply.
CGT events that occurred before 8 May 2012 are not affected.
Foreign and temporary residents
You must calculate the CGT discount you can apply to the capital gain if you're a foreign or temporary resident individual and, after 8 May 2012, you have a discount capital gain from a CGT event.
If you were a foreign or temporary resident on 8 May 2012, you may choose to get a market value for the CGT asset as at 8 May 2012 and use a market value calculation. This will apportion the CGT discount to take into account the capital gain you accrued before 8 May 2012.
Australian residents with a period of foreign residency after 8 May 2012
You must calculate the CGT discount you can apply to the capital gain you have if you are an Australian resident and, after 8 May 2012, you have:
- a capital gain from a CGT event
- a period of foreign or temporary residency.
Your period of foreign or temporary residency after 8 May 2012 is taken into account when calculating the CGT discount you can apply.
See also:
For assets acquired after 8 May 2012, the CGT discount of 50% is generally not available to foreign and temporary resident individuals (including beneficiaries of trusts and partners in a partnership).