All Topics / Help Needed! / Capital Gains

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  • Profile photo of PhorshaPhorsha
    Participant
    @phorsha
    Join Date: 2006
    Post Count: 56
    April 25, 2012 - 4:05 am

    Hi All, does capital gains come into play if someone has rented their 1 and only house out for 2 years within a 6 year period?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 25, 2012 - 6:24 am

    That house could be totally exempt.

    Or you will pay CGT apportioned on the time rented out – varies depending on if you lived in it first and then rented it or rented first and then llived in it.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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