cgt

  1. S

    Another Captial GainsTax question

    I searched the forum but couldn?t find similar question asked anywhere. I have exchanged contract for a land purchase in Oct 2014. Land settles in July 2015. If I sell the land in Nov 2015, my understanding is that I have to pay capital gains tax for 50% of the profit made? But what is...
  2. R

    Transfer property to Family Trust

    ive learned so much from stalking this forum but this is my first post. So I hope I'm putting this post in the right space. 10 years ago my parents 'gifted' land to my brother who took out a mortgage to build a house on the land and rented it to my parents. Since then my parents have...
  3. A

    Change PPOR to IP after 7 years

    Hi All I have lived in my home for 7 years and now moving to a new home which an IP of my close friend. Can i rent my old home with 6yrs exception on CGT? what paper work do i need to make sure i get the exception. i am single as of now.
  4. R

    CGT and cost base

    I have a question regarding CGT and items that can be added to form part of the cost base. Property in question was built brand new and has only be used as an IP These are the items I believe can be added to the cost base: - conveyancer / lawyer costs to sell property - stamp duty paid...
  5. M

    Advice please - PPOR, CGT and tax deductibility

    Hi all, Keen follower of SS, first post! Quick description of our situation. Have a PPOR apartment in Sydney which we bought in '09. Rented it out for 2 years whilst we were overseas but back living in it. Have built up some equity and refinanced recently in order to begin a property...
  6. D

    CGT where PPOR first rented then you move in

    Hi Wondering if anyone has experienced this or knows how to tackle it. I bought a house in Aug 2005 already rented and moved in 12 months later after I gave the tenants notice. I then lived there from Aug 2006 until I sold it in April 2013. When I moved in within 12 months of purchasing it, I...
  7. L

    How to reduce CGT if selling 2 properties within 1 finanical year??

    I have recently sold my inheritance property on the 20/10/14 which is located in Blacktown NSW. I would now like to sell my investment property located in Surfers Paradise QLD next January 2015. However I would like to know if there are any ways to Reduce Capital Gains tax? My Tax Accountant...
  8. J

    CGT Main Residence Exemption

    Hi everyone. This is my first post but I'm hoping to contribute more in the future. Anyway I was hoping some tax professionals could help me with my question. Why is the main residence exemption only available if you move out completely? e.g. Scenario 1 If I bought a house...
  9. D

    Capital improvements & CGT on IP to PPOR

    Hi there, Plan: - Purchase an IP and 2 years later move into said property making it my PPOR. - Make improvements to the property (i.e. new kitchen) after the property becomes my PPOR, Question: Are the invoiced Capital Improvements costs incurred in the 'PPOR years' able to be added...
  10. M

    CGT and the 6 year rule

    hi guys.... I havent been on here for a while as my steam for property investment has slowed down and we are considering selling our IP to pay off our PPOR and then just see what comes next... I need some help with calculating the CGT payable upon sale of this IP which was once our PPOR. Here...
  11. D

    Subdivision - CGT & GST

    The Corner block of land next door to my PPoR has come up for sale. Currently my block is slightly too small to subdivide but if I purchase next door I could subdivide a good size block across the rear of both properties resulting in 2 houses plus a vacant lot. Currently I am putting...
  12. S

    CGT or GST on sub division and new PPOR - Mildly confused

    Hello all We are about to purchase a new property with the intention of living in the house but completing an already commenced subdivision of one into three. We would be left with the main home and would sell the two lots upon registration which would be well within the 12 month period so...
  13. C

    IP Tenants In Common Loan

    Hi Somersoft, This is my situation, I am in my early 20's and had saved up a healthy deposit. Due to still studying and not having a full time income I had difficulty gaining a loan but I wanted to do so in order to get in the property market a couple of years earlier and rent it out whilst...
  14. G

    PPOR Subdivision question

    Its probably been done to death, but I would appreciate some input on the following.... I have a PPOR subdividable block on which I want to; a) build a house at the back, then b) live in it, while I demolish the other one and build a new one on the front c) sell the back one, paying no...
  15. mkattela

    Best Path to minimise CGT

    G' day folks! Currently myself and 2(Total 3) of neighbours are planning to combine the land and give it for a developer to demolish the current houses and build town houses Total Land size of 3 neighbours = 3000 m2 (Approx) Total town houses expected = 12 to 16 (currently assuming...
  16. D

    How do i calc CGT on subdivision?

    Hi guys, I am trying to do "what if" scenarios on a property to see what potential profit would be achieved If i subdivide. Need to work out what CGT would be paid if I subdivide and sell . Facts are: Land size = 800m2 with 1 freestanding dwelling on it. Wish to subdivide, creating two...
  17. O

    Owner builder valuation for tax purposes

    Hi, I have built a unit (owner builder) at the front of my existing residence with the aim of strata titling both properties and then selling the original residence (lived there for 12 years) and renting out the new unit as a investment. We then plan to buy a PPOR in a different suburb. I...
  18. M

    Two Principal Places of Residence?

    CGT Exemption? I have a question on CGT exemption as my situation is a bit complicated: I bought a block of land and built a house in 2006 (Property A) and moved into it and lived there until 2009. Then I decided to rent it and move into another property (Property B) that I built in 2009. I...
  19. D

    First Home Owner Transfer Duty Exemption, PPoR, CGT and a Lodger

    Hi all, I hope this is a simple question - but in my research it has become increasingly complicated... My situation is this: - Bought first home (a 2 bedroom appartment) 01/02/2011 - Claimed FHOG - Claimed First Home Transfer Duty Exemption - I have lived in the property since...
  20. jsoe

    2 situations 2 hard for me

    Hi, If some of you wonderful investors could help me out here, it'd be greatly appreciated. :o I have PPOR (a studio), lived in it for 8 months, then moved closer to my work near the city, PPOR is no longer and now tenanted. I want to sell that studio now. I won't be moving back into it...
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