Moving to Australia

It's becoming more and more common for New Zealander's to move to Australia for better job opportunities among other things.  While I'm sure those people have identified a number of upsides about moving to Australia, one downside is the fact that the Australia has a capital gains tax.  

So, if you retain property in NZ which isn't subject to any capital gains tax in NZ, you'll want know the rules on whether Australian capital gains tax will apply to that property if you move for Australia.

If you qualify as a temporary resident of Australia, then it's only your income earned in Australian and property situated in Australia that is subject to Australian income tax and capital gains tax.  

You are a temporary resident of Australia if you are a tax resident of Australia, you hold a temporary visa and arrived after 26 February 2001.

New Zealander's arriving in Australia are automatically granted a Special Category Visa which is a temporary visa.  

An Australian resident under the Social Security Act 1991 includes a person who lives in Australia under a Special Category Visa and is a protected SCV holder.  A protected SCV holder is a person that was in Australia on or before 26 February 2001.  

To summarise, if you and your spouse are NZ citizens and move to Australia after 26 February 2001, then your NZ property will not be subject to Australian income tax or capital gains tax.

Disclaimer: The above article is general in nature and we recommend you seek professional advice tailored to your specific personal situation.