A couple of Capital Gains Tax Questions

Hi all,

I have a number of capital gains tax questions from investors on my blog which I would love your support answering.

1.
I have an investment property that I have owned for 20 years and I an currently planning to sell it. I understand CGT will be payable however could you explain if I will be able to off set all expenses incurred over that period or just expenses incured in the last financial year when doing the Selling price v purchace price calculation. I have kept all documentation over that time. Kind regards and many thanks in advance.

2.
We have had a block of undeveloped land (it has water and electric to the block) for about twenty five years. If we put a transportable/very large garage dwelling on it and live in it as our main dwelling for 6 months do we avoid CGTor is there a way we can avoid paying CGT.
Thanks

3.
Hi Ben,
We bought our home three years ago, and we have been living in it since then. We are planning to knockdown and re-built two townhouses. We want to keep and live in one and sell the other one. We understand there may be some CGT implications associated with this project. We would be very grateful if you would let us know as to how we should go about doing this project so that our tax exposures are minimized.
Thank you very much for your help.

4.
Hi Ben
We bought a property and rented it out for 6 years and have been living in it for the past 4 year We are hoping to sell it later this year so it will then be 5 years.
i know we cannot avoid GCT completely but looking at what we can claim to reduce it. We went to a accountant to crunch some figures but I have noticed you mention stamp duty ect which he never asked about. Some sites I have looked at mention rates,insurances and the cost of eventually selling the house. Any help or suggestions would be much appreciated

5.
Hi Ben. I was reading on another website that CGT does not apply to a property purchased befroe 1985. If that is so and we moved overseaes in 1999 after spending 17-years in our Melbourne property, does that exempt us from CGT on trhat property? The only concern I have is that becoming a non-resident for Taxation purposes is considrered a CGT event, but I;m hoping that might only apply after 1985.
Thanks