Am i right in thinking that i should use the market/agreed value of my Adelaide property in January 2007 (date we purchased our Gold Coast property) to determine my CGT, ie. if the market value was 410k in Jan 2007 and we sell for 430k then the capital proceeds we need to work with to determine our CGT is 20k.

Does that sound…[Read more]

Thanks for the responses and I will be getting professional advice so really just trying to clarify things in my mind before doing that.

Terryw – so do you feel that we wouldnt be eligible for the 6 year exemption despite not owning another property until Jan 2007?

Cheers.

Kirk.