Category «CGT»

Death, CGT and Your Home

Download PDF      How you hold the title of your home has a major effect on how it is treated when you die.      If it is through a company or trust then your death will not affect the ownership of the property.  Though if the trust is a fixed trust and you hold the …

Renting out a Room in your Home

Download PDF      Reserve Bank Governor Phil Lowe has told struggling homeowners to rent out a room in their home so they can afford the increased interest rates.  Nice to see someone with a take home pay of over $10,000 per week can empathise with the common people, but what about the tax consequences?     …

CGT Affects Most of Your Assets, Even Gifting Jewellery

  Download PDF     CGT applying to collectables is a serious problem probably affecting everyone.       Consider for a moment you purchased an engagement ring before 19th September, 1985 that cost you $700.  As it is a pre CGT asset there is no CGT payable when you transfer it as a gift to your spouse.  Assuming …