Search results

Hi travelbug For CGT purposes the disposal of the property would be deemed to have occured at market value under s 116-30 ITAA 1997. http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s116.30.html Stamp duty would be charged at market rates too.

hi I am not a tax expert, but I cannot see how this could be the case. The recipient of a gift paying tax. Surely it is the disposer of the asset that it hit with CGT. Deceased estates excepted. Can anyone back up this claim?

I don't think the fact that it was a gift will make any difference to whether you will pay CGT. It will depend on whether it is your main residence or not.