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pretty decent answer from my beancounter today... Scenario: Mr A has an investment property, purchased for $100,000. Sells to Mr B for $100,000 (say 7 yrs after he bought it) - even though it is really worth $500,000 in real market value. Would he be liable for GGT? Obviously...

no i wouldnt have thought they would alex...previosly advised such though. u definative on that, or more a suggestive thought?

tks tiz.. accountant suggested a while ago that my original example was the case...will follow up and get 'exact' answer.

is that for real tizzy? i thought the person buying at well under market value just had to pay the stamp duty as assessed at fair market value....(which is well below the CG tax liability of seller if there's been a nice growth..can be paid by seller/parents). thought there wasnt any CG...