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Buying a property at auction that I have inherited 1/3 of....

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Juicyguava | 07 Apr 2017, 03:51 PM Agree 0
I have just inherited 1/3 of a unit in Sydney with my 2 sisters. We have put the property on the market and I am going to bid on it when it goes to auction. I am an Australian citizin who has been resident in NZ for over 15 years. If I am successful at auction I will be paying full market value and I won't recieve my 1/3 share of the sale proceeds for another 6-12 months when the estate distributions are made. What tax and or CGT implications do I need be aware of? How can I mitigate these?
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