T tj22 17th Jan, 2015 #1 Hi all, so say if you inherit a ppor from your parent which was there ppor. and is fully paid off. if you sell it do you pay no CGT on it because it was there ppor? or would you have to hold it for 12 months to show it is now your ppor? :S the hole idea is not to have to pay CGT Cheers
Hi all, so say if you inherit a ppor from your parent which was there ppor. and is fully paid off. if you sell it do you pay no CGT on it because it was there ppor? or would you have to hold it for 12 months to show it is now your ppor? :S the hole idea is not to have to pay CGT Cheers
DaveM 17th Jan, 2015 #2 https://www.ato.gov.au/General/Property/Inheriting-a-dwelling/#Selling_a_home_you_inherited Generally no CGT applies
https://www.ato.gov.au/General/Property/Inheriting-a-dwelling/#Selling_a_home_you_inherited Generally no CGT applies
Terry_w 17th Jan, 2015 #3 Depends when you sell and what you do with it. Size also matters in this instance. generally would be CGT exempt if you dont rent it out assuming normal block.
Depends when you sell and what you do with it. Size also matters in this instance. generally would be CGT exempt if you dont rent it out assuming normal block.
