Comments on: How to avoid Capital Gains Tax while renting out your house.

By: Helen Bull

Helen Bull — Tue, 15 May 2012 09:16:12 +0000

Hi. I currently have a property in joint names in Australia but live in the UK. The property has been rented for the last 15 years. I now want to sell it. Can you please tell me if I wanted to put it into just my name and then sell it what would the CGT be since I haven’t lived in the Australia for the last 13 years, but I’m still an Australian citizen. The house was originally in trust but when my father passed away it got transferred over to myself and the other person. I know want to sell it. Is it easy to have the other person taken off the deeds?

By: Mathan

Mathan — Fri, 04 May 2012 03:15:18 +0000

Hi,
I bought a unit in 2007 and lived there for approx 8 months, and then gave it for rent for 2.5 years. After 2.5 years, i have now moved back and lived there for a year. If i sell that property, will i have to pay CGT. Thanks

Regards,

Mathan

By: Chris

Chris — Sun, 29 Apr 2012 09:55:33 +0000

Hi. I own an investment which was purchased at the end of 2009. It is my only property and will be until its sold. I lived in the property for the first 6 months and plan to move in for a period of time before the property is rented for 6 years. What is a suitable amount of time I would need to live in the property before being able to rent it for another 6 years?

By: Jen Tsui

Jen Tsui — Thu, 26 Apr 2012 00:48:05 +0000

Hi There

We bought a property in June 2006 and start renting a room out in mid year of 2008 until now. we would like to know if we are able to continue to rent a spare room out and when we should stop it to be exempted from CGT.

Looking forward to hear from you.

Regards,
Jen

By: Peter Martin

Peter Martin — Tue, 24 Apr 2012 02:41:38 +0000

Hi,

My wife and I purchased our first home in 2004 and lived in it up till July 2008, we then rented the house until 2011 where we made the decision to sell as we have moved overseas. Our house was the primary place of residence in Australia. We were paying off the mortgage right up till the time we sold the house and then paid out the loan with the payment from the sale of the house. Are we liable for CGT?

Regards,

Peter M

By: matt

matt — Thu, 19 Apr 2012 03:57:09 +0000

I bought my primary home in 2010. I have recently purchased another property and would like to rent it out for 2 years prior to moving in. At that time I will be selling my primary home purchased in 2010. I realise my 1st property will be exempt from CGT but will my second property that I recently purchased be exempt despite tenants about to move in for approximately 2 years?
I am happy to live in my second home and rent the home purchased in 2010 if it helps with avoiding CGT

By: Steve

Steve — Mon, 16 Apr 2012 15:36:57 +0000

I purchased an apartment early 2009. Its my primary place of residence in Australia but I have been working overseas from early 2010. The property has never generated rental income as I have a family member living in the property. Am I liable for CGT?

By: antulov joe

antulov joe — Sat, 14 Apr 2012 06:27:42 +0000

my prime residence I’m building by a builder,if i sell it do,do i have capital gains tax ,.or i have to live in it .

By: Brett

Brett — Sun, 25 Mar 2012 02:30:13 +0000

Hi.

I am building 2 homes on one block. I plan to live in one (Home ‘A’) ‘for 3 months, sell it and move into the other (Home ‘B’). In this scenario, what would be my capital gains tax obligations? Is there a way that I could avoid CGT completely on Home ‘A’?.

Thanks.

By: Cassie

Cassie — Wed, 08 Feb 2012 04:47:45 +0000

Hi, I purchased a property which I have lived in for 2 years,now the property is for sale as I would like something bigger. The buyer is playing games, I am wondering if I rent it now for a fixed term - say 2 years, and then re-market the property for sale, would i be subject to CGT for the 2 year period it was rented?
Thank you