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.
In 2018-19, I accidentally salary sacrificed $21,000 into super, which, with the super guarantee of $9,000, placed me …
-
Noosa News21 hours agoFatal Traffic Crash, South Bingera
-
General23 hours agoBathurst 1000 quick hits: Chaz Mostert drinks beer with fans, Erebus owner protests, and drama on Mount Panorama
-
Noosa News17 hours agoTrucking company penalised for refusing to pay unfairly sacked worker
-
Noosa News13 hours agoFarmgate Backpackers leads with integrity amid industry challenges