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Tax exemption for ‘granny flat’ arrangements

Tax Exemption for ‘Granny Flat’ Arrangements

Emma Zajac
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To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement. Typically, granny flat arrangements occur when an older person transfers some sort of consideration (often title to property or proceeds from the sale of property) to their adult child in exchange…
picture of a family home with toys on the floor

CGT and the family home: expats and foreigners excluded from tax exemption

Emma Zajac
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Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact. Key points ·       Non-residents for tax purposes excluded from the main residence exemption from 9 May 2017 ·       Transitional…
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