Monthly archives: September, 2015

CGT – Death

Question A taxpayer passed away on 20 December 2014. The taxpayer & his spouse owned a private property which was never rented out. However they also owned a rental property which was rented out as soon as they purchased it. The rental property was purchased around 10 years ago. The couple don’t own any other …

6 year rule

Question Hi,together with my family I was transferred overseas by my employer in August 1998. We rented out our home before selling it in September 2001. We subsequently paid a deposit on another home in the next suburb in December that year and settled in February 2002. This house was rented until October 2004 when …

Interest deduction calculations

Question 1. Purchased investment Property Feb 2012 with 540K Loan (A). Was rented out 100% of the time until construction began June 2014 for 3 investment units.2. Drew a construction loan (B) of 450k to build the 3 investment units.3. Shortly before construction started, we decided that we would live in one of the new …