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Thank you all, certainly a lot to think about and yes wish we had of looked into it more when first striking the deal. Rob. The date of contract was 1 November 1985 for the family home. The date of settlement is not on the record provided by the land titles office. Gary your assumptions are...

Thanks Hotrod very prompt response! Are there other deductions she can make to reduce that bill? That was less than I thought it might be, seems a fairly straight forward calculation as well. We thought we might need to sell the property if the CGT was too high and mum gift our share to...

Dear learned ones. I will be booking into see a tax specialist with my my mum but would like to float the question first with the Somersoft community. Love this site! Mum purchased the family home for $55,000 on 1 November 1985 apparently just 2 months after CGT was introduced on 1 September...