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Emigrating to Australia with 500k tax implications?

Pauliedragon · 2024-03-29 19:28:25

Someone I know who's retired is thinking of selling up here and moving to Aus and was asking me (I don't have a clue but I lived there so he thinks I'd know) about tax if he sells his 450K house here and moves there with 50K cash how would it work tax wise as in would he get stung for tax by transfering that much either…

29-03-2024 7:28pm

#1

Pauliedragon

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Someone I know who's retired is thinking of selling up here and moving to Aus and was asking me (I don't have a clue but I lived there so he thinks I'd know) about tax if he sells his 450K house here and moves there with 50K cash how would it work tax wise as in would he get stung for tax by transfering that much either here or over there? I know we have some tax arrangement with Aus.
Cheers.

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#2 07-04-2024 2:50pm

Geuze

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There is no CGT on any gains made from disposing of one's PPR.
So there are no tax implications.

1