Hi guys,
Can someone please help me out with a capital gains tax query?
I bought a townhouse in Brisbane in August 2006, rented it out for a few months and moved in December 2006. It has been my primary place of residence since. If I sell the house in October 2007 for a price higher than what I bought it for, how much capital gains tax do I owe the government now that I've owned it for over a year?
Thank you.Have you tried this tool from the ATO site?
http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=CGT_and_real_property.XR4&go=ok
Cheers
ElkaThank you Elka…that tool did provide an answer to my query. I didn't find it when I was exploring the ATO website for answers.
Cheers
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