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Daniel
Daniel, Solicitor
Category: Australia Law
Satisfied Customers: 5617
Experience:  Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
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A couple of years ago i had my mums named removed from the

Customer Question

A couple of years ago i had my mums named removed from the house title . We were tenants in common i owned 75% and she owned 25%. We went to a lawyer to get her name off and gift me the 25%. She agreed and the house was just on my name . Recently got a letter fro tas office to say she owes cgt tax of 42000. Is this correct if i knew this beforehand i would have just left her name on there.
Submitted: 1 year ago.
Category: Australia Law
Expert:  Daniel replied 1 year ago.
HelloSadly it is correct. gifting / transferring title attracts a capital gains tax. The only real exemption is when parties get divorced and the like sadly. I wish I could give better news.
Expert:  Daniel replied 1 year ago.
HelloI note I have not heard back from you.I wish to assist you, please click accept and rate my service. I am able to answer further questions if any after doing so at no further cost.
Expert:  Daniel replied 1 year ago.
HelloI note I have not heard back from you.I wish to assist you, please click accept and rate my service. I am able to answer further questions if any after doing so at no further cost.
Expert:  Daniel replied 1 year ago.
HelloI have not heard a response from you?I wish to assist. Please click accept and rate my service. I can answer further questions after doing so at no further cost. ​I look forward to hearing from you.