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  • Capital gains on Australian assets

    A capital gain is the difference between what it cost you to get an asset and what you got when you sold or otherwise disposed of it.

    If you’re a foreign or temporary resident and you make a capital gain when you dispose of 'taxable Australian property', you may have to pay capital gains tax (CGT).

    Taxable Australian property includes:

    • a direct interest in real property, or a mining, quarrying or prospecting right to minerals, petroleum or quarry materials
    • a CGT asset that you have used at any time in carrying on a business through a permanent establishment in Australia
    • an indirect Australian real property interest. This is an interest in an entity, including a foreign entity, where:
      • you and your associates hold 10% or more of it
      • the value of your interest is principally attributable to Australian real property.

    Taxable Australian property also includes an option or right over one of the above.

    See also:

    Last modified: 30 May 2015QC 33227