Category «Capital Gains Tax – Your Home»

CGT on home with Granny Flat

Question We owned a rural property just over 1 acre (0.4Ha) with a dwelling and attached granny flat for 10 years. The granny flat was originally built for the previous owners’ parents so it was more like an extension to the main residence rather than a separate dwelling, it was separated by a common party …

Passing Homes Through the Family with no CGT

Question Maintaining the Main Residence Exemption from CGT through the generations BACKGROUNDReference is made to two residences: one on the “Coast” and one in the “City”. Mum was living alone in her main residence on the Coast (land 400 square meters) which qualifies for the main residence exemption. Mum decided to enter permanent residential aged …

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