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with capital gains tax do you pay a higher % if you re-sale within 12months of buying the house, what is this % if anyone knows?
Hello,
There is a 50% cocncession on CGT if you own the property for more than 12 months. (owned as an individual or trust)
Should you sell prior to this, the total amount taxed will be based on your marginal tax rate. That is, the gain will be added to your income and taxed accordingly.
If you sell after the 12 months, only half of the gain will be added to your income and taxed accordingly.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au[
] thanx mate your a little champion
] thanx mate your a little championViewing 3 posts - 1 through 3 (of 3 total)
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