Latest Questions – Page 41

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.

Main residence exemption

Question I have built a spec home but could not sell it, I am now living in it. How long do I have to live there to cover it with my main residence exemption? Answer You are not entitled to use your main residence exemption to cover this property because the profit on it is …

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