Business
Clarifying Capital Gains Tax rules – Sydney Morning Herald
Your home remains exempt from CGT for six years if you move elsewhere and do not claim another home as your main residence.
The grandchildren will not be charged CGT until they sell the property, but that tax will be based on your original price and capital expenses, unless you bought it before September 20, 1985.
If, instead, you sell it, you would pay any CGT and, of course, lose the rental income but will then have money in the bank. If you dont need to spend that capital, I wouldnt do anything.
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