• Tax Bites EP13: Changes to Foreign Resident Capital Gains Tax Regime

  • Jul 29 2024
  • Duración: 21 m
  • Podcast

Tax Bites EP13: Changes to Foreign Resident Capital Gains Tax Regime

  • Resumen

  • In this quickfire episode of the Herbert Smith Freehills Tax Bites podcast, Australian tax partners Toby Eggleston and Ryan Leslie, along with Senior Associate Naison Seery, discuss the recently released Treasury consultation paper proposing changes to the foreign resident capital gains tax regime. Key topics include broadening the classification of assets subject to tax, updates to the principal asset test to a 365-day rule, and new notification requirements for the sale of assets over $20 million. The hosts delve into the potential implications of these changes, discuss uncertainties, and invite feedback before the August consultation deadline.

    00:09 Introduction
    00:28 Overview of Foreign Resident Capital Gains Tax Changes
    01:02 Current Tax Base for Foreign Residents
    02:48 Proposed Changes to the Tax Base
    05:27 Detailed Breakdown of Proposed Measures
    11:32 Principal Asset Test Changes
    14:16 Notification Requirement for High-Value Transactions
    19:29 Closing Thoughts and Consultation Details

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