hi all if say you inherit a investment property in sydney, worth 700k (original sale price was 500k) so 200k equity
1. you have to pay CGT when you inherit right, because it's a IP?
2. when it goes through probate can you choose to sell it to a family friend or a friend for the price that it was originally bought for so you don't have to pay CGT? as there is not profit?
thoughts?
1. you have to pay CGT when you inherit right, because it's a IP?
2. when it goes through probate can you choose to sell it to a family friend or a friend for the price that it was originally bought for so you don't have to pay CGT? as there is not profit?
thoughts?