Monthly archives: July, 2014

CGT on Subdivision of Pre 1985 Home

Question Hello JuliaI do enjoy reading your newsletters and tips.I am 69, and ceased full-time teaching in May 2014. I have a SMSF into which I rolled my teaching super plus shares formerly in my name.My former husband and I jointly purchased our family home in 1974. After separation and prior to our divorce in …

CGT and divorce

Question Dear JuliaIn 2008, my husband and I bought shares in a publicly listed company. The shares remained in my name even though they were a joint asset.After my marriage ended in 2013, I sold the shares and deposited all of the proceeds into an online savings account in my name that contained our joint …

GST

Question HiI am looking at purchasing a commercial shop, which is currently empty, and residential premises (2 units), which are upstairs, for approximately $1.3m, in a trust structure. They are on the same title.Is GST payable on purchase? That is, is it already included in the $1.3m? Is GST payable on the commercial premises only?The …

CGT on Sale of Farm Land

Question Following the death of her father on 25 April 1999, my wife inherited a 1/3 share of a block of farm land. This land was transferred to her and two sisters under a tenancy in common in 2004.Under a determination by the executor the occupation and use of the land rent free by the …

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