If you inherit a dwelling and later sell or are looking to sell it, you may be exempt from Capital Gains Tax (CGT); however, there are conditions that need to be taken into consideration. Generally, a resident individual taxpayer is exempt from capital gain tax on disposal of a dwelling that is his/her main residence. … Continued
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One question investors often ask about claiming depreciation on a rental property is ‘how will these claims affect Capital Gains Tax (CGT) when the property is sold?’
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If you are a small business owner and sell an asset that you owned for at least 15 years before the sale, you may qualify for the capital gains tax (CGT) 15 year exemption rule.
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The range of “granny flat” scenarios in Australia is quite extraordinary – from the “garden variety” (excuse the pun) to homeowners actually building granny flats in their backyards and leasing them out to people, almost like a business.
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