• 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 149KB)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:

    Last modified: 17 Jul 2017QC 35657