• Becoming an Australian resident

    When you become an Australian resident (other than a temporary resident), you are taken to have acquired certain assets at the time you became a resident for their market value at that time.

    This does not apply to assets you acquired before 20 September 1985 (pre-CGT assets) and assets that were taxable Australian property.

    If you became a resident, the general cost base rules apply to any capital gains tax assets that are taxable Australian property.

      Last modified: 24 Jun 2016QC 17934