Post
- 20 Oct 2021
CGT CHANGES FOR FOREIGN RESIDENTS WITH INDIRECT INTERESTS
<p style="border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 17.3333px; line-height: inherit; font-family: 'Open Sans', Arial, sans-serif; vertical-align: baseline; margin: 0px 0px 20px; padding: 0px; color: #25458d; background-color: #ffffff;"><img class="wp-image-1571" style="border: 0px; font: inherit; vertical-align: baseline; margin: 0px; padding: 0px; max-width: 100%; height: auto; width: 150px;" src="http://www.epicpm.com.au/wp-content/uploads/2020/02/Capital-gains-tax.jpg" sizes="(max-width: 980px) 100vw, 980px" srcset="http://www.epicpm.com.au/wp-content/uploads/2020/02/Capital-gains-tax.jpg 980w, http://www.epicpm.com.au/wp-content/uploads/2020/02/Capital-gains-tax-300x195.jpg 300w, http://www.epicpm.com.au/wp-content/uploads/2020/02/Capital-gains-tax-768x499.jpg 768w" alt="" width="980" height="637" loading="lazy" />On 12 December 2019 the Government passed an amendment to strengthen the foreign resident capital gains tax (CGT) regime. As part of this, foreign resident taxpayers that have indirect interests in entities that hold interest in Australian real property assets in a disaggregated manner, will now need to apply the principal asset test (PAT) on an associate inclusive basis.</p> <p style="border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 17.3333px; line-height: inherit; font-family: 'Open Sans', Arial, sans-serif; vertical-align: baseline; margin: 0px 0px 20px; padding: 0px; color: #25458d; background-color: #ffffff;">To read more, <span style="border: 0px; font-style: inherit; font-variant: inherit; font-weight: bold; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline; margin: 0px; padding: 0px;">click </span><a style="border: 0px; font: inherit; vertical-align: baseline; margin: 0px; padding: 0px; color: #25458d; outline: 0px; transition: all 0.3s ease 0s; text-decoration-line: none !important; box-shadow: none !important;" href="https://www.ato.gov.au/Business/Business-bulletins-newsroom/International/CGT-changes-for-foreign-residents-with-indirect-interests/?utm_source=The+Tax+Institute+Members+-++TaxVine&utm_campaign=06af8b643c-Taxvine151217_COPY_01&utm_medium=email&utm_term=0_d13c4c9225-06af8b643c-98133037">here</a></p>