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  • Profile photo of cdubbcdubb
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    @cdubb
    Join Date: 2010
    Post Count: 2
    November 11, 2010 - 11:40 am

    thank you for your response.
    I am a little confused as I thought my son does not need to pay CGT because it will be his primary home after I sell it to him?

    please advise..

    Scott No Mates wrote:
    Stamp duty is calculated at market value.

    Your accountant is probably in the best position to advise whether reduced cgt would be payable if you sold below market to your son or whether you would pay cgt on the market value or if it could be seen to be defrauding the ATO in an effort to avoid paying cgt.

    If your son then onsells (at a great profit within 12 months) he will be up for CGT on the full value of the gain at his marginal rate of tax. If he sells outside of the 12 months, then the cgt is reduced by 50%.

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