hi Everyone, Just wondering if I purchased a property in 2013 for $377,000 and sell it now for $430,000, however I claimed around $10,000 per year in depreciation, do I need to take the depreciation into account when working out my CGT?
you can use this calculator to work out the capital gain on the property Capital gains Calculator for Rental Property - ThinkWiser
The calculator doesnt address many things that a tax professional may consider 1. Dates 2. s118-192 issues 3. MRE absence 4. MRE period and % 5. Spouse issues 6. 3rd element CGT costs (if eligible) 7. Date the property was first rented and capital allowances claimed 8. Periods of non-residency 9. Errors in 3rd element costs if s118-192 is used and these were incurred prior to that date
Buy Property Interstate WITHOUT Buyers Agents! Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia » Learn HOW Now!