Category «Capital Gains Tax – General questions»

Choosing Which Main Residence to Cover When Children are Living in Your Old Home

Question Capital Gain in a Trust with revenue losses. Trust has only one beneficiary. Trust has revenue loss for the year of $29,788 with a Gross Capital Gain of $200,000 on the sale of the Business. Therefore accounting distribution is $170212. Tax return has a Capital Gain (Net after discount and active asset reduction) of …

Airbnb and the main residence exemption

Question This question relates to renting out our apartment while travelling for work. My husband bought the apartment in the eastern suburbs (with mortgage) in 2006 that is in his name. My husband runs a medium sized not-for-profit company that puts on cultural events in Sydney, interstate and sometimes overseas. He also has a tour …

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