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CGT on family home a possibility

Discussion in 'The Buying & Selling Process' started by Scott No Mates, 11th Jan, 2016.

  1. Scott No Mates

    Scott No Mates Well-Known Member

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    What will happen to values for properties in many established areas of Sydney where sales regularly top $2m? (Eastern Suburbs, North Shore, Inner West & ppors affected by rezoning).

    Linky

    Not having a bar of this.

    Maybe you come from the wrong side of the tracks, got lucky, inherited, married the publican's daughter or whatever but this proposal sux.

    The vast majority of homeowners in many areas would be seriously affected by these measures. If it isn't bad enough that we get slugged with over $95k in stamp duty (add to that selling agent commissions around $40-50k as well).

    We have to keep successive governments convinced that the ppor is not a lifestyle choice or investment & to keep their mitts off our $$
     
  2. neK

    neK Well-Known Member

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    According to the Domain, CGT was introduced in 1995 ;)

    They fixed it in the main body of text but forgot about the text under the image.
     
  3. Big Will

    Big Will Well-Known Member

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    Didn't read article but why would a sales agent be involved if you transferring from one person to another which the agent didn't assist with. If you were selling then why would you pay stamp duty?
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Pointing out the cost for moving to a new ppor.
     
  5. Angel

    Angel Well-Known Member

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    McKeon must live in company-subsidised rented accommodation to offer this suggestion. Would the idea affect him?

    (Quote from, article) McKeon, who chairs the board of AMP, said he had always been perplexed by the “sacred cow” status of the primary residence in Australia’s tax and pension system.
     
  6. sanj

    sanj Well-Known Member

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    I'd hope not everyone in this world thinks firstly of how something affects them instead of doing the job theyre paid to do.
     
    Angel and Jennifer Duke like this.
  7. Jennifer Duke

    Jennifer Duke Well-Known Member

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    And before that thinks of how the vulnerable in our community are affected.