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A person who is not a resident of Australia for tax purposes is nevertheless liable for capital gains tax (CGT) on certain assets located in Australia. And these assets are assets which have a “fundamental” connection with Australia and are broadly as follows:   real property (ie, land) located in Australia, including leases over such land; [...]

Since 1 July 2024, the age at which individuals can access their superannuation increased to 60. So what does this mean for those planning on accessing their superannuation upon reaching this age? What is the preservation age? Access to superannuation benefits is generally restricted to members who have reached the ‘preservation age', which is the [...]

Whether you are a resident of Australia or a non-resident of Australia for tax purposes has significant consequences for you. Primarily, if you are a resident of Australia for tax purposes, you will be liable for tax in Australia on the income you derive from all sources – including, of course, from overseas (e.g., an [...]

A common question that is often asked is whether amounts can be added to a superannuation pension account once it has commenced. The short answer Unfortunately, the answer is no. Although your pension account can continue to increase due to investment earnings, such as interest and dividends, any further capital cannot be added to the [...]

Probably the most overlooked reason for the housing affordability crisis in Australia at the moment is the capital gains tax (CGT) exemption for a person’s home itself. But not this alone. Rather, it is probably the exemption in conjunction with all the various concessions a person can use to access the exemption. And these concessions [...]

There can often be a fine line between whether a person is carrying on property development activities or is “merely realising an asset”. For example, it may not be clear whether the extent of a person’s development activity in respect of, say, subdividing his or her backyard and building one or more units of accommodation [...]