Stretching the 6 year absence rule indefinitely Most readers will be familiar with the ‘6 year rule’. This rule basically states that a person...
Ok so to get CG tax free status on my PPOR, do i have to buy it in my own name, or can it be bought in a trust? Second, is it still 6 months...
Hi all, I'll tell the story. Parents purchased a place for myself and my wife to live back in 1991. Paid $43000, spent $12000 on renovations. We...
Hi I currently live in my PPOR under my name, if we are to buy another property under my wife name and move into it. The exist property will not...
Tax Tip 175: Subdividing Land and CGT Subdivision occurs when you change or split one title of land into 2 or more titles. It is like cutting up...
Hey all, So further to a different post, my dad is looking at selling a 50% stake of his property to a friend. It's worth $800k. With a debt of...
I have owned a WA rental property for 10 years and now plan to sell it. It will need painting, new carpets, etc. The tennants are moving out so I...
I'm with First State Super, 53y.o., looking to retire at 60. Investigating options with better returns such as Hostplus or Australian Super. What...
Hey guys, I've just been going through old tax records etc and chucking anything that is no longer needed due to being past the required 5 year...
Say I build a GF on my PPOR( which I been living for 3 years) and rent it out for 1 year. I want to sell my PPOR after 1 year which has the GF....
Property 1 (main residence since day 1 owned by A) Property 2 in interstate (tenants in common 50% each owned by A and B). Both A and B never...
If 3 individuals (Person A, B and C) are TiC on a property that was purchased for $700k and sells for $1m, and only 2 individuals (A and B)...
When a property first becomes income producing the cost base is reset to the value at the date it becomes income producing section 118-192(2)...
Hi all, I currently own 2 properties, one with an existing home (in which I currently live) and another with vacant land. The existing home is...
Hi all, My Father in Law has a small house(on a big block) with development potential on the Fraser coast (Hervey Bay). He has never lived in...
If an SMSF has mum & dad & 2 kids, and they can elect to use the CGT relief on all assets, but want to defer the gain. Fund currently 95%+ tax...
We are just about to complete the sale of a property which we've held for 21 years. In 1997 they changed the rules for CGT. Any items which were...
Hi there When I was young and clueless I lived in my property for 3 years and moved overseas. I rented property out but didn't know at the time...
We will see an accountant specialising in this area but just after thoughts from the members here. The story goes like this. When my wife and I...
Been thinking of selling down but means a hefty CGT bill whilst we are both still working. We have an IP in the UK which, although cash flow...
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