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Not sure if you can help. I want to know how much capital
Hi not sure if you can help. I want to know how much capital gains tax (south Australia) you would pay on an inherited house value approx $300,00. If you sold it after Deceased been dead for 2 years … read more
John Melis
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I bought a property in Queensland in 2002 for $175.000 and
I bought a property in Queensland in 2002 for $175.000 and have spent $145.000 in renovations up to Jan. 2012. The property was rented continuously for that period. From Jan 2012 until April 2012 it w… read more
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Leon
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Master's Degree
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I was wondering if I have to pay capital gains tax on my
Hi I was wondering if I have to pay capital gains tax on my principal place of residence if for some reason I may have to sell it in say 5-6 years. I purchased my property in January 2013 and leased i… read more
Leon
Leon
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Master's Degree
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Hi Leon, My daughter owns two properties. She lives in property
Hi Leon, My daughter owns two properties. She lives in property A and rented property B one for 1 year after purchasing. When I sold my own property in 2013, I moved in with my daughter and transferre… read more
Leon
Leon
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Can a small business tax payer apply to change gst reporting
Can a small business tax payer apply to change gst reporting period from annual to quarterly basis due to substantial amount of gst refund upfront, after the allowable time change and if so how ?… read more
James D. Ford
James D. Ford
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I have a rental property that is about to become vacant. Is
I have a rental property that is about to become vacant. Is it possible to live in it for a period of time, say 6 months or 12 months and then sell it and avoid having to pay Capital Gains… read more
Patrick H.
Patrick H.
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Hi Leon, If I were to buy bitcoins and invested those bitcoins
Hi Leon, If I were to buy bitcoins and invested those bitcoins into a bitcoin denominated security that pays dividends in bitcoin, would those dividends be assessed as ordinary income (category 2 othe… read more
Leon
Leon
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Dear Sir,I have lived overseas for 5 years and during this
Dear Sir, I have lived overseas for 5 years and during this time I have rented out my home in Sydney. I was of the understanding that CGT would start applying after 6 years of renting it out, if I dec… read more
Patrick H.
Patrick H.
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I purchased an investment property in August 2012.. I have
I purchased an investment property in August 2012.. I have now decided to sell it less than 12 months after the purchase.. What percentage will I have to pay in tax penalties..… read more
Patrick H.
Patrick H.
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Good morning For the purpose of land tax calculation on an
Good morning For the purpose of land tax calculation on an investment property, when is the ownership transferred, at the time of exchange of at the time of settlement. The buyer of my property needs … read more
Leon
Leon
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Master's Degree
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I bought a rental property along with my daughter in 1990. The
I bought a rental property along with my daughter in 1990. The property was valued at $200,000. We each had a $100,000 share. In July 2011 I had it valued at $385,000. I sold my share to my daughter f… read more
Patrick H.
Patrick H.
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Hello,This question concerns my liability, if any, for CGT
Hello, This question concerns my liability, if any, for CGT on the sale of my PPR in which I have been residing since Financial Agreement, pursuant to s 90C FLA, was entered into by wife anf myself in… read more
Leon
Leon
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Master's Degree
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I am a individual tax payer,I have sold 2 rental properties
I am a individual tax payer,I have sold 2 rental properties in November 2010, one i lived in for 10 years and rented it out for 2-years the other one was rented out for 25-years and purchased another … read more
Leon
Leon
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i made a capital gains tax of 126000 thousand dollars less
i made a capital gains tax of 126000 thousand dollars less my fees of approx 37000thousand dollars net figure 89000 thousand dollars it was on a property in WA. i never rented it out and was purchased… read more
Leon
Leon
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Master's Degree
32,717 satisfied customers
if you fully own a block of land and the bank hold the title
if you fully own a block of land and the bank hold the title against your residential property loan, can the land value then be offset against your capital gains liability when you sell the land.… read more
Leon
Leon
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Master's Degree
32,717 satisfied customers
my husband and I are separating and we decided that the family
my husband and I are separating and we decided that the family home will be transferred to my name so I can live there with my two daughters who are 21 and 23. He will have our investment property tra… read more
Leon
Leon
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My Mother inlaw left her house to her three daughters, of which
My Mother inlaw left her house to her three daughters, of which one is willing to buy out the other two, does this mean that the other two will have to pay tax on the money they get from the house sal… read more
Leon
Leon
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Master's Degree
32,717 satisfied customers
I bought my home (my principal place of residence) before September
I bought my home (my principal place of residence) before September 1985. Iintend leaving the home in mywill to a recognised charity. Will my estate or the charity be liable for capital gains tax when… read more
Leon
Leon
Solicitor
Master's Degree
32,717 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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