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From: Leigh Milner
If you buy a new IP for $200,000 ($100,000 Land : $100,000 Building) and over X years you depreciate the building to $75,000 and the property on sale is worth $220,000 is the CGT payable $20,000 or $45,000?
My guess is that it is $45,000 although until recently I hadn't really thought about it and assumed it was simply $20,000.
If you buy a new IP for $200,000 ($100,000 Land : $100,000 Building) and over X years you depreciate the building to $75,000 and the property on sale is worth $220,000 is the CGT payable $20,000 or $45,000?
My guess is that it is $45,000 although until recently I hadn't really thought about it and assumed it was simply $20,000.
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