Capital gains on overseas assets

If you are an Australian resident, your capital gains on overseas assets are treated in the same way as your capital gains on Australian property. If you make a capital gain that is taxable in Australia and you have paid foreign tax on it, you may be entitled to a foreign income tax offset.

If you operate an Australian company, from 1 April 2004 certain capital gains and capital losses you make on the disposal of your shares in foreign companies with underlying active businesses are disregarded or reduced.

Last modified: 16 Feb 2016QC 45588