All Topics / Legal & Accounting / Capital Gains Tax Advice needed.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of corbin77corbin77
    Participant
    @corbin77
    Join Date: 2007
    Post Count: 4
    October 29, 2007 - 8:58 pm

    Has anyone had the situation where you and partner had two mainresidences and tried to claim main residence exception ?
    I desperately need a good accountant who has expertise in Capital Gains Tax,can anyone recommend one in Melbourne ?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 30, 2007 - 12:54 pm

    You can only claim one place as your main residence at any one time, except for a period of 6 months when in between properties when there can be an overlap. The legilsation is near s 145-118 of the Income Tax Assessment Act 1997.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.