Monthly archives: October, 2015

Reduction CGT by Carry Forward Loss (In Company)

Question Hi Julia,If Company has a 1.5M carried forward loss (trading loss not capital) and sells a Commercial Rental Property (leased until 2021) with a capital gain (for example of 1M) does the Capital Gain ultimately just get deducted of the C/F trading loss. For example 1.5m minus 1m leaving the 500,000 c/f and no …

Sale off the plan – GST and CGT/Income Tax implications

Question I purchased a house in 2007 which I proceeded to rent out. In 2011, the backyard was subdivided with a second dwelling built and then also rented.The old, existing house was demolished a few months ago. That lot is in the process of being subdivided into two lots with construction started on two new …

Value of land for CGT

Question My husband and I purchased property July 2000, merely realising an asset in 2004 when land use was changed to R30, we built 2 units at the rear of the block. Building commenced July 2006. Rented out June 07. These were on one title until Sept 11. Due to my husbands ill health we …