When Do I Pay CGT?

[WebBoard]

From: Fiona W


Hi,

I was just wondering when we pay CGT on selling property. Do we pay the amount when we sell, or at tax time? Please say "tax-time"!!

- Thanks Heaps...

 

[Les]

Reply: 1
From: Les .



G'day Fiona,

"Tax-time" ... (How's that ;^)

But that's the easy answer. Your accountant should have advised you of that. What? You didn't ....?? OH !! Whoops .... Maybe some things can still be done, maybe it's not too late .... It may be too late for SOME things, but I'm sure a good accountant can advise on a number of moves you can still make.

(Got any HIH shares ???? Onetel???)

There could be MANY things that can help, but you really need professional advice to seek them all out, look at them, and utilise those things that can work for you.

Good luck,

Regards,

Les


- "Eschew Obfuscation" - ;^)