Sheesh, is everyone due in July? I'm going to have to work on having mine in June just to be different
There's no CGT on babies, but as propertunity said, sell the place when your income is at its lowest. Baby bonus/FTA/FTB isn't taxable, btw, so don't go adding it in when you're working out your income for that financial year.
Vaguely on topic, my partner wants to know - if you have a baby on June 30th, can you claim the baby bonus as a lump sum in your tax or do you have to take it in progress payments?