Is my thinking right? CGT Question

Question for the brains trust

This scenario is for Vic (I don't think that matters tho)

Husband and wife purchase a house together for 250k and never live in it.

One day, they divorce and in the settlement the husband retains the property. There is no CGT/Stamp Duty here due to the transfer being due to the divorce.

If the husband now sells the property for 450k, does that mean that he has aquired and now disposed of a CGT-Pregnant property and he will be liable for the entire CGT bill? (Which should be 200k, but with a 50% discount for holding more than 12 months = 100k to be added to the taxible income?)

 

Yes. It is as if he was the sole owner from the beginning.

 

Thanks @Terry_w

 

When a marital split occurs a solicitor should generally consider the sum of all matrimonial assets and any associated CGT liability which affects its "net value". eg a family home or former home may have less CGT or none. Imagine if one party benefits by the tax ?

Its the same as a deceased estate, Imagine if the will says 50% each and one child is given CBA shares worth $600K and the other gets $600K cash. The inheritance of the shares may be worth $133K less.