Australian Principal Place of Residence is now going to be taxed if you live overseas

[4MyEgo]

2 hours ago, Small Joke said:

We can thank Skase, and a few Mediterranean types for stuffing up the age pension overseas.  The Europeans buggered off to the mother country after retiring, and started on the relatively generous pension rorts.  But the government,  in true sphincter fashion,  punished collectively. So now we all have to go hang out there for some ridiculously  long time to re-qualify for hard earned money they took from us to begin with.  It's reprehensible.

If you look at it another way, the government left the door wide open (loophole), just as is the case if your a foreign resident, the only thing you don't pay tax on, is money invested in the stock market, conditional of course, the shares have to be fully franked (tax paid), and there is also no capital gains tax payable on the sale of shares that have increased.

 

The can stick it to us by punishing us with a 2 year jail sentence because of their own doing and allowing the Europeans that you refer to, too go back to the mother country and claim generous pension rorts, you would do the same if the loophole was there and you were European, so don't stick it to them, at least they worked and paid taxes, and yes I am European.

 

Perhaps you should point your anger on others who don't work, get money as coming as immigrants and work for cash, and I can tell you now, they ain't European, more middle eastern, Australia has become a hand out country, those that work, work for those who come in with nothing on the hope that they can contribute by getting a job, best of luck on that one.

 

It is not feasible for most of us to return for the 2 years, just on my calculations, if I received the age pension at 67, it would take me 4 years (71) to recoup what it would cost me to live in Australia for the 2 years prior to receiving the age pension, so that I can have it made portable, and $40,000 a year is by no means a comfortable lifestyle in Australia to be living on for a family, i.e. rent, food, car, etc, etc, and they know that, hence the jail term.

 

Some would say, but you can go on Newstart for the 2 years, yes well, I have factored that amount into my equation, the Newstart allowance would be drink money...lol

 

Edited July 4, 2018 by 4MyEgo

[tlcwaterfall]

On 6/30/2018 at 10:41 AM, damian said:

I have a property back in Aus, rent it out and pay tax on that rent and file a tax return each year. I have lived OS for 25 years as a non resident for tax prurposes which means I get no free tax threshold. I have done jobs back in Aus and likewise declared the income. I have bank accounts and my super is still in Aus. ATO knows this and no issues so far. 

 

If I want to sell my property I can always transfer ownership to a family member and have them sell it or go and live in it for longer than 6 months and become a resident again then sell it. 

 

Are you sure about this? I am in a similar position and am seeking clarification on this point. 

 

I have submitted a tax return every year since I came here in 2009. I am still a resident for tax purposes

 

From the reading I have done so far on the Australian tax office website I will have lost my main residence exemption as I have not spent at least 183 days in Australia for more then nine years.

 

I have read somewhere which states if they believe we are are spending some time back in Australia they can still impose capital gains tax if they believe we have only come back to avoid the tax.

 

So would spending 6 months full time there or at least 183 days over a one year period satisfy their requirements?

 

I will do whatever I have to do to avoid this very unfair tax on my family home.

 

If anyone has more knowledge and links explaining this point further I would appreciate some help.

 

I really want to know all of my options re my family home so I can make an informed decision.

Edited July 5, 2018 by tlcwaterfall

[4MyEgo]

On 7/5/2018 at 2:59 PM, tlcwaterfall said:

Are you sure about this? I am in a similar position and am seeking clarification on this point. 

 

I have submitted a tax return every year since I came here in 2009. I am still a resident for tax purposes

 

From the reading I have done so far on the Australian tax office website I will have lost my main residence exemption as I have not spent at least 183 days in Australia for more then nine years.

 

I have read somewhere which states if they believe we are are spending some time back in Australia they can still impose capital gains tax if they believe we have only come back to avoid the tax.

 

So would spending 6 months full time there or at least 183 days over a one year period satisfy their requirements?

 

I will do whatever I have to do to avoid this very unfair tax on my family home.

 

If anyone has more knowledge and links explaining this point further I would appreciate some help.

 

I really want to know all of my options re my family home so I can make an informed decision.

There is a tonne of information out there, you just have to surf the net and you will find it, but more or less, to remain a resident, you have to be in the country for at least 183 days in any financial year.

 

It goes like this and is not cut and dry, but trust me when I say, if you spend more than 183 days in any financial year outside of Australia, you are deemed a Non Resident for tax purposes, now I know there will be people having a go to shoot me down, and they are welcome to it, the fact of the matter will lay with you to prove otherwise, i.e. you can keep doing your tax returns and stating that you are an Australian Resident for tax purposes and keep getting away with it, who knows, unless you get audited, you will get away with it, but what are the penalties for fraud, tax evasion ?

 

I have read the legislation, front, back, sideways, upside down and talk to various "logical" accountants, the ATO and with all of the evidence that I cam up with, said if I was out of the country for more than 183 days, I would be deemed a Non Resident, a link for your test, like I said, its not cut and dry, there are 3 ways to get tested, hence the confusion.

 

https://www.ato.gov.au/Individuals/International-tax-for-individuals/Work-out-your-tax-residency/Residency-tests/

 

Now the legislation states that an Abode can be a park where someone spends most of their time, regardless if you do not have a visa to live in another country, the fact that you are granted extensions, means you have a type of residency there, however if you do not spend most of your time in one country, you could probably have a leg to stand on.

 

You can sort of say that after the 183 days you were out of the country, your principal place of residence was subject to capital gain tax, CGT from the date you left, now look out come 1 July 2019, things are going to change for the worst.

 

If I am correct from 2009 you would be up for CGT till 8 May 2012 when they changed the rules to include foreign or non residents, same meaning, i.e. 2009 with a 50% CGT discount to 8 May 2012, so what you would need to do is face the music and find out for sure by talking to a qualified accountant, and if keeping your head in the sand like others suites you, buy all means do and I wish you the best of luck.

 

If you decide to take my advice, and talk to an accountant, costs nothing and will more or less tell you where you are at, and what risks if any you would be up against. I am sure they will advise you to get a retrospective property valuation carried out as at the date you left Australia, or first started receiving an income from it, that will want to be a HIGH valuation in 2009, the accountant should then tell you to get another one as at 8 May 2012, again it should be a HIGH one so as to minimize your future CGT, now you might say two high valuations will make you pay more in tax, yes theoretically, but from 2009 to 2012 you have a 50% discount on CGT, so take advantage of it.

 

If you like PM me and I might be able to offer you further advice, depending on what state your property is in, and please note, I am not a qualified accountant, but know enough to keep up with the times.

 

My friend just went back to Australia to sign a contract on his place, he has been here longer than you, and is over 65, and if he settles and puts up to $300,000 of the sale proceeds into a super fund before 1 July 2019 he won't pay any CGT on that $300,000, now that sounds a little bit of a fantasy to me, because it sounds like a downsizing rule which he may not be privy too, but if its all above board, good luck to him, if its not because he is not a resident then I wish him good luck again, anything to get away from being taxed over the hill for us, but I prefer to sleep at night, with no one being able to pull me up at immigration saying, hang on a second, we have to hold you here till the ATO come to see you, or my accounts in Australia being frozen which they can do.

 

If you always lived in your property and then rented it in 2009, you will be up for 9 years of CGT, 3 of those years will be at a 50% discount, so if your property was valued in 2009 for say 1 million dollars, and 1.4 million in 2012, you would have a CGT event of around $400,000 less 50% = $200,000 which would be added to any income you have in the year you sell it, less CPI etc etc.

 

There are a number of ways to reduce you CGT, one example would be to move back into it before 1 July 2019 and live in it for as long as you can before you sell it, which will in tun reduce your CGT, but you would also need a valuation as at the date you moved back into it, this time on the LOW side.

 

I could go on forever, but best PM me and see if I can steer you in the right direction.

 

Apologies in advance if I am the deliverer of any bad news in advance, but I don't make the rules, I just follow them and try to keep up to date with them, and if I can get you into making a plan to minimize any CGT, then its all good.

Edited July 10, 2018 by 4MyEgo

[davidst01]

On 7/2/2018 at 2:26 PM, StevieAus said:

In response to your first paragraph the answer is that self funded retirees ( I am one ) have been and continue to be screwed.

Your hear all this garbage about making provision for your retirement and when you do see what happens, see my comment in the post above, about the retrospective changes to superannuation that were introduced last year.

Australia used to be a country where incentive was rewarded not anymore, I paid personal, tax company tax and collected the GST for the government, all rewarded with nothing.

I read an article some time ago that stated that fifty percent of the population now receive some form of government payment.

Quite frankly I am glad that I decided to leave and I am in no hurry to return for any reason

I agree. you couldnt pay me to live in the nanny state anymore

[zaZa9]

1 hour ago, davidst01 said:

I agree. you couldnt pay me to live in the nanny state anymore

Yes.

Instead the nanny state  wants  you to pay for other people to live there.

[ELVIS123456]

On 7/11/2018 at 1:28 PM, zaZa9 said:

Yes.

Instead the nanny state  wants  you to pay for other people to live there.

  On 7/11/2018 at 12:01 PM, davidst01 said:

I agree. you couldnt pay me to live in the nanny state anymore

-----------------------------------------

I cannot agree more but I have to live here.  We are here waiting for the pension and portability (plan to live in both countries - have kids here), and it is just awful - the socialist nanny state has taken over completely. So many issues - but here is just one.  Illegal Immigrants (refugees) get immediate welfare support wheras migrants have to wait 2 years (soon to be 4). That is not a problem as such, but what it means is that refugees get money and little incentive to find employment.  That makes sense as they cannot be expected to find a job, but what does it cost the taxpaters??  A 2013 ABS report stated that 53% of all refugees into Australia in the previous 15 years, still had social welfare as their main source of income. That is costing taxpayers billions and it is making no impact at all on the total worldwide problem. And the reality is that most 'refugees' are just 'economic refugees' that want a better life/money.  Just look at Europe now - in Sweden (have a friend there) they reckon 94% of all refugees are on welfare and they cannot and will not get employment.  How much does this all cost??  In the US they pay $8.8billion each year for new refugees - in Aust and Europe they dont count the total costs - that would be racist or invasion of privacy etc etc.  But migrant advocates regularly publish the costs of illegal detentions and want open borders (and welfare support).  Where will all this end?

 

Socialisim does not work. It never has and never will.  Socialists refuse to teach people how to fish,- they want to feed them fish every day and see it as a 'human right'.  They always eventually run out of other people's money (Thatcher).  Australia is a socialist democracy - fact.  Compared to USA (or Thailand) both political parties (Labor and Liberals) are left of Lenin.  I hate the place - but there are still many good people here.  But eventually the system will break - of that I have little doubt - it is unsustainable.  Meanwhile, get whatever you can is my view.

 

[tlcwaterfall]

On 7/10/2018 at 8:58 PM, 4MyEgo said:

There is a tonne of information out there, you just have to surf the net and you will find it, but more or less, to remain a resident, you have to be in the country for at least 183 days in any financial year.

 

It goes like this and is not cut and dry, but trust me when I say, if you spend more than 183 days in any financial year outside of Australia, you are deemed a Non Resident for tax purposes, now I know there will be people having a go to shoot me down, and they are welcome to it, the fact of the matter will lay with you to prove otherwise, i.e. you can keep doing your tax returns and stating that you are an Australian Resident for tax purposes and keep getting away with it, who knows, unless you get audited, you will get away with it, but what are the penalties for fraud, tax evasion ?

 

I have read the legislation, front, back, sideways, upside down and talk to various "logical" accountants, the ATO and with all of the evidence that I cam up with, said if I was out of the country for more than 183 days, I would be deemed a Non Resident, a link for your test, like I said, its not cut and dry, there are 3 ways to get tested, hence the confusion.

 

https://www.ato.gov.au/Individuals/International-tax-for-individuals/Work-out-your-tax-residency/Residency-tests/

 

Now the legislation states that an Abode can be a park where someone spends most of their time, regardless if you do not have a visa to live in another country, the fact that you are granted extensions, means you have a type of residency there, however if you do not spend most of your time in one country, you could probably have a leg to stand on.

 

You can sort of say that after the 183 days you were out of the country, your principal place of residence was subject to capital gain tax, CGT from the date you left, now look out come 1 July 2019, things are going to change for the worst.

 

If I am correct from 2009 you would be up for CGT till 8 May 2012 when they changed the rules to include foreign or non residents, same meaning, i.e. 2009 with a 50% CGT discount to 8 May 2012, so what you would need to do is face the music and find out for sure by talking to a qualified accountant, and if keeping your head in the sand like others suites you, buy all means do and I wish you the best of luck.

 

If you decide to take my advice, and talk to an accountant, costs nothing and will more or less tell you where you are at, and what risks if any you would be up against. I am sure they will advise you to get a retrospective property valuation carried out as at the date you left Australia, or first started receiving an income from it, that will want to be a HIGH valuation in 2009, the accountant should then tell you to get another one as at 8 May 2012, again it should be a HIGH one so as to minimize your future CGT, now you might say two high valuations will make you pay more in tax, yes theoretically, but from 2009 to 2012 you have a 50% discount on CGT, so take advantage of it.

 

If you like PM me and I might be able to offer you further advice, depending on what state your property is in, and please note, I am not a qualified accountant, but know enough to keep up with the times.

 

My friend just went back to Australia to sign a contract on his place, he has been here longer than you, and is over 65, and if he settles and puts up to $300,000 of the sale proceeds into a super fund before 1 July 2019 he won't pay any CGT on that $300,000, now that sounds a little bit of a fantasy to me, because it sounds like a downsizing rule which he may not be privy too, but if its all above board, good luck to him, if its not because he is not a resident then I wish him good luck again, anything to get away from being taxed over the hill for us, but I prefer to sleep at night, with no one being able to pull me up at immigration saying, hang on a second, we have to hold you here till the ATO come to see you, or my accounts in Australia being frozen which they can do.

 

If you always lived in your property and then rented it in 2009, you will be up for 9 years of CGT, 3 of those years will be at a 50% discount, so if your property was valued in 2009 for say 1 million dollars, and 1.4 million in 2012, you would have a CGT event of around $400,000 less 50% = $200,000 which would be added to any income you have in the year you sell it, less CPI etc etc.

 

There are a number of ways to reduce you CGT, one example would be to move back into it before 1 July 2019 and live in it for as long as you can before you sell it, which will in tun reduce your CGT, but you would also need a valuation as at the date you moved back into it, this time on the LOW side.

 

I could go on forever, but best PM me and see if I can steer you in the right direction.

 

Apologies in advance if I am the deliverer of any bad news in advance, but I don't make the rules, I just follow them and try to keep up to date with them, and if I can get you into making a plan to minimize any CGT, then its all good.

Thank you for your very informative and detailed explanation. Much appreciated.

 

Will PM you soon.

[4MyEgo]

UPDATE: 

 

Hi Guys   I raised started this post, and an updating it by copying and pasting an email that I received today.   Well now it appears it's going to happen very soon, so those of you who have your principal place of residence (home) back in Australia and are Non Residence for tax purposes, I would strongly suggest that you contact your accountants a.s.a.p. as Capital Gains Tax on your principal place of residence is about to increase to 45% from 1 July 2019, now if you think that's unfair wait......................., because there's more to come, i.e. the Capital Gains Tax applies from the very first day you purchased the property, not when you moved overseas, so it will be 45% Capital Gains Tax from the very first day you purchased your principal place of residence (home), and no 50% CGT discount.   Hopefully this post and this update will save a few Xpat Non Residents a little fortune as they have time to either get back and sell their principal place of residence (home) before the 30th June 2019 or from selling it from here, but firstly, make sure you talk to a qualified accountant as I am not qualified in this area and am just copying and pasting what was forwarded to me out of interest, because I know "labelled" Non Residents who own property back in Oz, do get and are further getting the rawest of deals yet to come.   Copied and pasted extract of an email below, sent to me today, and If this post is going to save you a few bucks, give me a like as it will make the effort all worth it for me.   You’re probably busy doing what you do best so we won’t keep you long. Recently you reached out to us about your Australian taxes and since the 2018 Australian financial year just ended, we think now's the perfect time to let you know about a bunch of recent tax rules that have the potential to affect you.   I'm Shane Macfarlane, the founder and tax advisory partner of Expat Tax Services. My goal is to update you about new and recent Australian tax rules that may affect you and many other Australian expats living and working around the globe. By providing you with valuable information about these rule changes over the coming few weeks, you'll be able make timely decisions so that you're not caught unawares and so that you're not slugged with high Australian taxes unnecessarily because of a lack of planning.   And this week, we start with a look at some harsh new rules seeking to scrap the main residence capital gains tax exemption on the sale of your family home!   Main residence CGT exemption to be scrapped - Australian government lays siege to expat family homes! Your family home has always been your castle, but with recent changes to Australia's capital gains tax main residence exemption for non-residents, your castle is under serious attack by the Australian Taxation Office (ATO).  Public policy in Australia has always been that Australians should not have to pay tax on any capital gains made on the sale of their family home (providing certain criteria were met). However, for Australian expats and non-residents generally, that's about to change!   What's changing?  Back in early 2017 we warned our clients about the Australian government's 2017/2018 budget proposal to scrap the main residence exemption for Australian expats (and other non-residents) with a harsh new rule slated to kick in from as early as 9th May 2017. Basically, the new rule means that if you sell your family home while living overseas as a non-resident, you may be taxed on every dollar your home has increased in value since the day you purchased it.  Under the old rules, 100% of those gains would have been totally tax-free! Worse still, your gains will be now be subject to tax at Australia's punitively high non-resident tax rates of up to 45%.   A small window of hope Although these harsh new rules apply from 9th May 2017, the Australian government has applied a grace period for existing properties, but only until 30th June 2019.  So if you're like the majority of our clients and you own a family home back in Australia, there's still hope because you will have a small window of opportunity to sell your home prior to 30th June 2019. After that date, if you are a non-resident, the main residence capital gains tax (CGT) exemption on the sale of your family home will be abolished, regardless of whether you are an Australian citizen or not! Now, it might seem like 30 June 2019 is a long way off, but remember that real estate markets can be seasonal. How will your property perform in the summer, autumn and winter of 2018/19?  If your property will do better in the spring – there’s only one season left to go! How will this affect me? We feel that these new rules are inherently harsh and unfair as we believe that it will force many long-term Australian expats into making a major life and financial decision much earlier than planned. For example, we believe many Australian expats will be forced into: ·         selling their family homes much earlier than planned (before 30th June 2019) ·         cutting short their overseas expatriate role and returning home to Australia much earlier than planned; or ·         deferring the sale of their family home until they eventually return to Australia, even where this is not convenient. Additionally, these new rules are so punitive for non-residents that overseas and Australian employers may find it more difficult to hire and relocate Australians to work overseas.   It's also worth noting that given recent increases in Australian property price over the last few years, particularly in Sydney and Melbourne, Australian expats may have accrued significant gains in Australian property.   Here a couple of case studies to explain further Example 1 – CGT applies   Sarah acquired a dwelling on 10 September 2010 for $200,000. As soon as practicable she moved in. On 1 July 2018 Sarah got a job in New York and moved out but unfortunately she could not sell her property in time before she left Australia to take up her new role.  On 1 August 2019, while resident in New York, she signed a contract for the sale of her house at a sale price of $1,200,000. The whole profit (totalling $1,000,000) on the sale is subject to capital gains tax at Australia's non-resident tax rates of up to 45%.  Had she sold the property before 30 June 2019, the whole of the profit would have been tax-free. It doesn’t matter that the house was Sarah’s main residence for the vast majority of the time that she owned her home, CGT applies on the full amount of the gain. Example 2 – CGT doesn’t apply Jessica bought her home in February 2003 and moved straight in.  She sells the house in 2020, but between those two dates she spent considerable periods overseas, and when she did so, she rented her house out. From October 2007 until March 2011 she lived in a rented apartment in London.  She came back and lived in her house from March 2011 until she went to Hong Kong until 10 June 2017. While she was in Hong Kong she rented her house out. When she came back in 2017 she lived in her house until she sold it in 2020. There is no CGT on the sale because at the time Jessica is resident in Australia.   What this means for you If you're an Australian expat, contemplating an overseas posting, or if you run a company that has employees overseas, then it's important to understand how these new rules introduced into parliament will affect you. In fact, we believe more than 90% of our expat clients will need to consider, sooner rather than later, whether or not to sell the family home. If you think you fall within that 90%, we highly recommend that you book a tax consultation with us at (below) page to learn how these changes may affect you.  Book an Appointment  Because when someone is laying siege to your castle, to be forewarned is to be forearmed.   What's up next week? Next week, we'll take a look at how recent tax changes to Foreign Resident Capital Gains Withholding Tax will impacts expats who are considering selling their Australian property.   If you have any questions in the meantime, please hit the reply button and drop me a line.   Until next week, Shane Macfarlane CA, FTA, B.Bus. | CEO & Founder Wherever you are, whatever you do . . . we’ve got your Australian tax needs covered www.expattaxes.com.au AU: +61 1300 762 001 |  Asia: +852 8199 9021 |  US: +1 857 574 5700 |  UK: +44 20 8144 9320         To make sure you keep getting these emails, please add [email protected] to your address book or whitelist us. Not interested in keeping up to date with Australia's tax changes and want out of the loop? Unsubscribe. Our postal address:  c/- 19480/Expat Tax Services, GPO Box 1171, Sydney, NSW, 2001, Australia Liability limited by a scheme approved under Professional Standards Legislation. 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Jealous types are troublesome to others, and also a torment to themselves, you have beenforewarned jealousy is an incurable disease, I would rather be single and happy than miserable with an infected partner.

[davidst01]

51 minutes ago, 4MyEgo said:

UPDATE: 

Hi Guys I raised started this post, and an updating it by copying and pasting an email that I received today.

jesus this government are s>>t. Im glad I sold my PPOR a few yrs ago and didnt pay a cent in tax. 

 

dont forget guys.... you dont have to pay any tax on gains from international shares. Im not invested in tech stocks on nasdaq anymore but if the market corrects / crashes Im back in for sure. It will be easy money- just a waiting game before they go up.... all tax free

Edited September 25, 2018 by ubonjoe
Snipped quote of a very long post. No need to quote all of it.

[4MyEgo]

3 minutes ago, davidst01 said:

jesus this government are s>>t. Im glad I sold my PPOR a few yrs ago and didnt pay a cent in tax. 

 

dont forget guys.... you dont have to pay any tax on gains from international shares. Im not invested in tech stocks on nasdaq anymore but if the market corrects / crashes Im back in for sure. It will be easy money- just a waiting game before they go up.... all tax free

Same same May 2016.

 

Stock market is the best, just make sure you buy fully franked shares and if the price dips, at least your getting a divi until it gets back up.

 

Been crap of late, but still making my monthly budget plus when averaged out.

[Henryford]

Is Ned Kelly working for the Aussie tax department now?

[oxymoron]

On 6/30/2018 at 11:41 AM, damian said:

If I want to sell my property I can always transfer ownership to a family member and have them sell it or go and live in it for longer than 6 months and become a resident again then sell it. 

Transferring a property incurs Capital Gains Tax in Australia. I have that in writing from ATO. Living in a property only exempts Capital Gains if done every 5 Years and 11 months and of course you would have to meet  the "Australian Resident requirements.

[4MyEgo]

On 9/28/2018 at 6:55 PM, oxymoron said:

Transferring a property incurs Capital Gains Tax in Australia. I have that in writing from ATO. Living in a property only exempts Capital Gains if done every 5 Years and 11 months and of course you would have to meet  the "Australian Resident requirements.

 

You are 100% correct, i.e. if it is income producing and the person is a non resident for tax purposes.

 

It also incurs stamp duty on the transfer, usually 3%-4% of the market value of the property as at the date of the independent valuation report which would provide the fair market value of the property and is mandatory when submitting the front page of the contract to the Office of State Revenue department, i.e. it's part of the requirement when inter-family transactions are carried out, i.e. how else will they know what the value of the property is...excluded are divorce cases and same sex couples being added to a title believe it or not...lol

 

Your scenario is the best, if you can maintain your Australian Residency, not an easy tasks if your living in another country for a while, lots of crap to get through to prove it and as you would know, it is on an individual basis, with avenues of appeal.

[stud858]

Think just filler talk as usual by politicians to avoid performing any real work like chase after bank criminals and actually throw them in prison.

 

Also was mentioned about not letting Australians outside of the country if they owe the government money such as education debt or tax debt. 

 

Don't worry. These things won't pass.  Just nonsense talk because it sounds like they are working but in fact not. 

[The Deerhunter]

On 6/30/2018 at 8:12 AM, Woofer said:

Thanks for organizing the petition. Taking away the capital gain tax exemption for your PROR for Australian citizens living overseas is totally unfair.

Agree. They are already saving the  Aust taxpayer heaps of money.  No health care costs, just for a start.  They want it both ways on "deserters." 

[4MyEgo]

On 10/4/2018 at 10:44 PM, stud858 said:

Also was mentioned about not letting Australians outside of the country if they owe the government money such as education debt or tax debt. 

I think you will already find that certain government departments can already stop you in your tracks from going on a holiday if you owe money like child support.

 

EDIT: It's called a Departure Prohibition Order and once you have paid the funds, you get a

Departure Authorisation Certificate

Edited October 9, 2018 by 4MyEgo

[stud858]

1 hour ago, 4MyEgo said:

government departments can already stop you in your tracks from going on a holiday if you owe money like child support.

I hope they acknowledge contractual agreements from hecs debts and other contracted debts. Adding to contracts later to disallow travel on a hecs debt would be against the law I'd say. The guy owing money on child support,  fair enough. 

 

[4MyEgo]

22 hours ago, stud858 said:

I hope they acknowledge contractual agreements from hecs debts and other contracted debts. Adding to contracts later to disallow travel on a hecs debt would be against the law I'd say. The guy owing money on child support,  fair enough. 

 

I doubt very much that a Departure Prohibition Order would be required for a Hecs debt as my daughter was here in January/February this year and had no problem getting out of the country.

[HarryB]

Hi all, I just joined this forum and trying to catch up. I'm going to go against the grain here and say the removal of CGT exemption actually makes sense to me. The exemption exists for PPOR so that your average home owner gets a tax break, but if you don't live in Australia it can't be a place of residence. So why should an exemption apply?

Also HECS is not a defaulted debt, as long as you're paying it back (or fulfilling the contracted obligation) it's just like any other loan.