I am in shock and very upset about my self and the situation atm. I went to my accountant today and try to fix my capital gain tax. I thought that i have 50% discount because my late wife and i bought the property back in July 2006 (more than a year holding). When i sold the property it have substantial amount of capital gain on that property.

Here is a rough summary about the situation that i am upset about:

Bought the property with my late wife 50/50 % joint tenancy.

She pass away on 13 July 2009

The property automatically goes to me.

I sold the property under auction on 3 of July 2010 and the final settlement is on the 2 Sept 2010.

I thought that we bought that property more than year so i will have the 50% discount, but no, because i sign the contract on the day of the auction on the 3 of July 2010, which not yet a year of my wife passing (i hold my late wife 50% less than a year), i only can get 25% discount on my part, which mean i have to pay about 15K more capital gain tax. I am so up set atm.

I just have a last question before i just want to forget about this <moderator: delete language>,

To hold the property a year, is that calculate the day i sign the contract after auction, or the final settlement?

Can you give me a few tax agent are good in Melbourne?

I decided to pay the capital gain tax for the year 2011-2012 (lump sum), will i occur penalty since i sold my property back in July 2010?