EXPAT PROPERTY SALE — TAX CHECKLIST
UK & Australia | Double Tax Agreement | AMGENT Wealth Management 2026
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✓ AUSTRALIAN RESIDENT SELLING UK PROPERTY
| Action | Timeline | Cost / Saving | Done? |
|---|---|---|---|
| Appoint UK tax agent or accountant | Before listing | £500–£2k | ☐ |
| File UK CGT within 60 days of completion to HMRC | Within 60 days | Penalty: up to 30% if late | ☐ |
| Obtain HMRC tax paid certificate | After UK filing | Required for Aus offset | ☐ |
| Claim Foreign Income Tax Offset in Aus return | Before 30 June | Save: $20k–$70k | ☐ |
| Match GBP:AUD exchange rates to ATO published rates | During Aus return prep | Errors = $3k–$10k loss | ☐ |
| Retain all UK payment receipts & correspondence | Ongoing | Required by ATO | ☐ |
✓ NON-RESIDENT SELLING AUSTRALIAN PROPERTY
| Action | Timeline | Cost / Saving | Done? |
|---|---|---|---|
| Confirm residency status with ATO residency tool | Before listing | Free — ato.gov.au | ☐ |
| Note: 15% withheld on ALL properties from 1 Jan 2025 — no $750k threshold | Before settlement | $180k on $1.2m sale | ☐ |
| Apply for withholding variation (Form NAT 74870) to reduce to actual CGT | Before settlement | Save: $95k cashflow | ☐ |
| Check 6-year absence rule — main home exemption may still apply | Before settlement | Save: up to $222k CGT | ☐ |
| Lodge tax return early (from 1 July) to claim refund fast | After 30 June | Accelerates refund | ☐ |
| Australian residents: obtain ATO clearance certificate before selling | Before listing | Free — apply at ato.gov.au | ☐ |
✓ QROPS TRANSFER + PROPERTY SALE TIMING
| Action | Timeline | Cost / Saving | Done? |
|---|---|---|---|
| Never combine QROPS transfer and property sale in same financial year | Planning phase | Risk: $181k tax collision | ☐ |
| Stagger property sale and QROPS transfer across separate FYs | Before either event | Save: $30k–$181k | ☐ |
| Model both tax scenarios with a cross-border adviser | Planning phase | $1k–$2k adviser cost | ☐ |
| Plan carry-forward concessional super contributions to offset income | Before QROPS transfer | Offsets assessable income | ☐ |
| Confirm QROPS fund is on ATO recognised list | Before transfer | Check ato.gov.au QROPS list | ☐ |
| Engage specialist adviser across both events — not two separate advisers | Early planning | Coordinated strategy | ☐ |
✓ RESIDENCY STATUS CHANGED DURING OWNERSHIP
| Action | Timeline | Cost / Saving | Done? |
|---|---|---|---|
| Get professional valuation at exact date of residency change | At residency change | Save: $50k–$100k | ☐ |
| Document residency change date precisely using ATO tool | At residency change | Cost-base reset required | ☐ |
| Calculate split gain across pre/post residency ownership periods | Before sale | Two-jurisdiction calc | ☐ |
| File separate CGT returns for each period | At tax time | Specialist preparation | ☐ |
| Claim DTA credit for overlapping taxation periods | In Aus return | Avoids double taxation | ☐ |
| Retain valuation and residency documentation | For life of asset | ATO audit protection | ☐ |
⚠ CRITICAL DEADLINES — DON'T MISS THESE
| Deadline | Event | Penalty if Missed |
|---|---|---|
| Within 60 days of UK completion | File UK CGT to HMRC | Up to 30% of tax due |
| Before Australian settlement | Apply for withholding variation | $95k+ cashflow locked with ATO |
| Before selling (Aus residents) | Apply for ATO clearance certificate | Buyer withholds 15% anyway |
| By 30 June | Lodge Australian tax return | Interest + 10% penalty |
| At least 1 FY before sale | Plan QROPS + property timing | $30k–$181k tax collision risk |
| Before listing (moving overseas) | Confirm residency status | Lose main residence exemption = $222k CGT |
📈 WHAT'S AT STAKE — DONE RIGHT VS DONE WRONG
| Scenario | Done Wrong | Done Right | Saving |
|---|---|---|---|
| UK rental — Aus resident | $143,000 tax | $48,000 tax | $95,000 |
| Non-resident Aus property ($1.2m) | $180k withheld, $95k locked 12 months | $85k withheld, correct amount only | $95k cashflow |
| QROPS + property same year | $341,000 tax | $160,000 tax | $181,000 |
| Residency change mid-ownership | Full gain — both countries | Split gain by period + DTA offset | $87,000+ |
| Non-resident selling Aus main home ($1.5m) | $222,000 CGT | $0 (6-year rule applies) | $222,000 |
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