Tax Questions Answered

This advice is general in nature and should not be acted upon without first obtaining professional advice on your particular circumstances.Please note that the answers, to other people’s questions, that you see here, are very specific their question. You cannot rely on them for your particular circumstances. Further, if you do askbantacs, before you act on your answer, you need to run it past your Accountant, who will understand the wider implications to your particular situation.

Monthly archives: July, 2017

Capital Gains Tax when a beneficiary has lived in a house owned by a trust

Question Hi Julia,My family trust (of which I am a beneficiary) has owned a house for 5 years. It has been rented out for the whole 5 years and interest has been claimed as a tax deduction, on the loan against the house. The trust has losses of 100,000.If I move into this house,as my …

Whether capital gains tax triggered in the USA

Question My name is Lisa Lark. I read the article titled "Do the sums before bequeathing shares to your children" appearing in the Age on Wednesday, June 28, 2017. I was hoping to ask a specific question in relation to the article, being:My son inherited shares from my aunt under a testamentary trust. She died …

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