CGT Consequences of Ceasing Australian Tax Residency
AIMS Australia Tax Accountants assists individuals with separately scoped reviews of the Australian
capital gains tax consequences that may arise when Australian tax residency ceases.
The work may involve CGT event I1, the residency-cessation date, the assets potentially affected,
market-value evidence, the choice to disregard all capital gains and losses arising from CGT event I1,
departure-year disclosures and the Australian tax consequences of a later disposal.
Compliance note
CGT event I1 may arise when an individual stops being an Australian resident for tax purposes. It does
not arise merely because a person physically leaves Australia. Its application depends on the residency-
cessation date, the nature and ownership of each asset, whether an asset is taxable Australian property,
the available market-value evidence and any relevant choice.
Matters We Commonly Review
Australian tax-residency cessation date
CGT event I1
Assets potentially affected by CGT event I1
Taxable Australian property and relevant exclusions
Shares, ETFs, managed funds and crypto assets
Australian investment property
Overseas assets
Market-value evidence at the cessation date
Choice to disregard all CGT event I1 gains and losses
Future-disposal consequences
Departure-year Australian tax return disclosures
Start with a Preliminary Enquiry
Provide a concise summary of your situation through the Initial Tax Enquiry Form. Do not include TFNs, passport numbers, bank account details or other highly sensitive identifiers.
