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The places, attractions and experiences worth your time in and around Australia - and the homes that put you close to them.
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By Team Avacasa
Australians Buying Abroad: CGT and Foreign Income Reporting
Australia taxes residents on worldwide income and gains, so an overseas property still needs annual rental income reporting and an eventual capital gains calculation in Australian dollars. Holding past 12 months generally unlocks the 50 percent CGT discount, and a foreign tax offset prevents the same income being taxed twice.
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