Hi guys, I have a question for the forum tax experts regarding calculation of capital gains tax. Hypothetical simplistic situation is as follows: Person A owns a property worth $300K. Person A sells to person B the property for a nominal $1. (think of it as a gift of sorts, only registered on a contract with a nominal $1 price). 3 years go by and person B wishes to sell the property now worth $400K. What is the cost base for the calculation of CGT? Is the capital gain considered to be $399,999.00 ($400K - $1 price) or is the value at acquisition ($300K) considered for a capital gain of $100K? Basically is the price or value used as cost base for capital gain calculation?