Photo: Getty ImagesNew Zealand expatriates who sell their family home in Australia could face a large tax on any capital gains. The Australian Budget earlier this month removed an exemption from capital gains tax on a main residence for foreign and temporary tax residents. New Zealanders who already own a home would not have to pay the tax if they sold the home before 2019. He said many Kiwis living in Australia were classed as "temporary tax residents" and would therefore be captured by the Budget change. Mr Brownlee received an assurance just three weeks ago that New Zealand would be told of any policy shifts which affected New Zealanders living in the country.

Source: Otago Daily Times May 22, 2017 21:22 UTC