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I just sold a rural property of 37 acres...the valuer

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I just sold a...

I just sold a rural property of 37 acres...the valuer advised the curtilage is worth $20,000. i have no income in australia although i am a dual citizen w/Au & USA. I am collecting my US Age pension which is approx. $18,000 a year. how much tax-roughly of course- can i expect to pay on the $20,000 property after taking the 50% deduction?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

NSW

Lawyer's Assistant: Has anything been filed or reported?

Not yet...i have only the letter from a licensed Valuer

Submitted: 10 months ago.Category: Australia Law
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Answered in 14 minutes by:
9/6/2017
Solicitor: Leon, Solicitor replied 10 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,720
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

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Solicitor: Leon, Solicitor replied 10 months ago

Good Evening

Is the $18,000.00 US or AUD?

Your rural property was it also your principal place of residence and did you receive $20,000.00 for the lot?

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