CGT and the family home: Expats and foreign residents beware
The family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate. If you are a foreign resident living in Australia or an Australian working overseas who owns residential property in Australia, this reform potentially has serious tax implications for you. Currently, individuals are generally not subject to capital gains tax (CGT) on the sale of the home they treat as their main residence. If the home was your main residence
Tampon Tax
The Labor Party has taken a pre-election strike by promising to remove the GST on tampons if they are elected. At present, tampons and other sanitary products, like razors for shaving and nappies, are considered consumables and GST applies. Incontinence pads however, because they are required for a medical issue, are GST free. This is not the first time the ‘tampon tax’ has been raised. The Greens previously put forward the strategy and in 2015, then Treasurer Joe Hockey agre
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