Capital Gains Tax

cgt retirement exemption

CGT Retirement Exemption Where Gain Is Made By A Trust (Explained)

By Wen Wen / November 12, 2021

Capital Gains Tax retirement exemption rule in small business concessions Applying the “Retirement Exemption” in the CGT Small Business Concessions can be quite difficult – particularly where a company or trust makes the capital gain and the exemption is sought to be applied for the benefit of individual shareholders in the company or beneficiaries in […]

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Inheriting rental property jointly

Inheriting Rental Property Jointly. A Dilemma?

By Wen Wen / October 25, 2021

Inheriting post-CGT rental properties Imagine you’re lucky enough to inherit, say, four post-CGT rental properties from a deceased parent – but what happens when your sibling also inherits a half-share of these? While you both acquire a very valuable 50% interest across four properties, it’s safe to say that in most scenarios, you’d both rather […]

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buying and selling homes

Buying A New Home Before Selling The Old One (What You Need To Know)

By Wen Wen / September 7, 2021

Both your new and your old home can be treated as your main residence for a certain period Sometimes an individual or couple decide to buy a new home before selling their existing one. In such cases, a concession exists that allows for both houses to be treated as the main residence for up to […]

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when it comes to real estate and cgt, the timing is important

Real Estate And CGT Event Timing is Important!

By Wen Wen / April 27, 2021

When selling or disposing of real estate When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually when one of the following occurs: You enter into the contract (the date on the contract), not when you settle. The fact that a […]

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Small businesses hopes to claim cgt concessions on vacant land as an active asset

Small Business CGT Concessions On Vacant Land

By Wen Wen / December 7, 2020

Full Federal Court’s decision on a vacant land as an active asset case… Businesses wanting to claim CGT concessions for active assets may find hope in a recent Full Federal Court decision on a long-contested vacant land case. In 2007, the Administrative Appeals Tribunal (AAT) ruled that vacant land on which two shipping containers had […]

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CGT on inherited properties

CGT On Inherited Properties (What You Need To Know)

By Wen Wen / November 7, 2019

No CGT applies when properties are distributed to beneficiaries Inheriting a home or a legal interest in one could be the largest windfall gain that many Australians ever experience. From a tax law perspective, when someone dies a capital gain or loss does not apply when property passes: To the deceased person’s beneficiary To the […]

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