The federal government announced in the 2017 Budget that it would remove a capital gains tax (CGT) exemption for expatriate Australians who sell their main residence while overseas. While the measure was projected to raise $581 million over the forward estimates, it has been widely condemned by tax and legal experts as being “unjustifiably bad policy” that would discourage Australians who are thinking of going overseas to work.
After the intense backlash, Treasurer Josh Frydenberg has announced that he would amend the policy. From The AFR:
