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Pregnant and CGT?
- Thread starter anjageorge
- Start date
A couple of things:
1. Sale date is the contract date (not settlement when you moved in)
2. CGT is paid at your marginal tax rate
So if you must sell a property that will trigger a CGT event, then try to do so in a year where you are on the lowest marginal tax rate.
1. Sale date is the contract date (not settlement when you moved in)
2. CGT is paid at your marginal tax rate
So if you must sell a property that will trigger a CGT event, then try to do so in a year where you are on the lowest marginal tax rate.
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?
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?
You have to take progress payments I'm afraid, from 1st January 2009.
