First of all thanks to the people who already helped me on making this topic clearer. Considering there are a lot of Australians living overseas and non-resident for tax purpose, I thought to open a new post to make this topic clearer to everyone. This is my understanding: Don't have to declare any income that you make overseas No Tax-free threshold for individuals No 50% CGT discount for assets held more than 12mths ATO can potentially challenge your residential status (this can cost money). For tax loss there will not be anything to offset against so it carries forward until you have taxable income which you can then offset it against. This could be a cash flow positive property. Land tax: I think it doesn`t change anything?!?! Other than this, I don`t see any major changes. Looking for a contribution from the experts. Please note I am not an accountant / tax advisor and everyone should seek own advice.