Category «CGT»

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 …