Private ruling: Residency of Australia for taxation purposes
Date of advice: 3 May 2021
Published: July 2021
Ruling period: Year ended 30 June 2019 | Year ended 30 June 2020 | Year ending 30 June 2021 | Year ending 30 June 2022 | Year ending 30 June 2023
Date scheme commenced: 1 July 2018

Ruling: Q1: Are you a temporary resident of Australia for taxation purposes? | A1: Yes. Based on the information provided to the Commissioner you meet the requirements set out in the legislation to be a temporary resident of Australia for taxation purposes. | Q2: Can you disregard the capital gains upon sale of your Country Z property? | A2: Yes. You can disregard the capital gain in relation to the sale of the property in Country Z.

Relevant facts and circumstances: You are a citizen of Country Z. You hold a Country Z Visa. You migrated to Australia after February 20XX and entered Australia using your Country Z passport. You have not lived in Australia for any sustained period of time before February 20XX. You have not applied for Australian permanent residency or citizenship. You sold a property in Country Z in 20XY and settlement took place in 20XX. You are not a resident of Australia for the purposes of the Social Security Act 1991 . You do not have a spouse who is a resident of Australia for the purposes of the Social Security Act 1991 .

Relevant legislative provisions: Income Tax Assessment Act 1997 section 768-915 | Income Tax Assessment Act 1997 Subsection 995-1(1) | Income Tax Assessment Act 1936 Subsection 6(1)