Your Investment Property forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Tax Q&A: Inherited Property

Notify me of new replies via email
Your Investment Property | 10 Jun 2013, 12:00 AM Agree 0
This month our tax experts tackle questions about inherited property. Email your taxing questions to editor@yipmag.com.au
  • Mitch | 17 Jul 2013, 05:01 PM Agree 0
    Hi we inherited a 1/8th share portion of our family home after my fathers death 7 years ago. The new wife of our father got 60% and has lived there free of charge ever since. We (myself and other siblings ) pay our proportion of rates and other outgoings for the property (as does his wife).
    Firstly; can this property be treated as an "investment property" for taxation purposes.?
    And if so
    Are we able to claim these expenses as a loss ?
    Cheers
  • louie | 26 Oct 2013, 09:42 PM Agree 0
    i have purchased a property in point cook melbourne for 505000 with a settlement date in december.
    i own my own property in prahran worth 700000.
    what advise can you provide in relation to the purchasing names on title aswell as strategy to further investments
  • Tina Lindsay | 28 Feb 2014, 02:24 PM Agree 0
    My parents have just won inquiring on behalf of my elderly mother. Her father died in 1992 and her brother continued to live in her fathers home whichhas been the family home since 1940. When her brother let the home deteriate a court case study arted as he refuse to sell. A court order forced the sale of the home in Dec 2013. What taxes on the sale of the house is owing. Brother is and sister received half value each. Thankyou.
  • Tina Lindsay | 28 Feb 2014, 03:12 PM Agree 0
    My parents have just won inquiring on behalf of my elderly mother. Her father died in 1992 and her brother continued to live in her fathers home whichhas been the family home since 1940. When her brother let the home deteriate a court case study arted as he refuse to sell. A court order forced the sale of the home in Dec 2013. What taxes on the sale of the house is owing. Brother is and sister received half value each. Thankyou.
  • cindy | 09 Sep 2014, 02:54 AM Agree 0
    We need your expert advice! My father-in-law passed away a year ago & my husband & his 2 younger brothers inherited the family home. Two of the brothers want to keep the house for income investments but my husband does not so he wants his brothers to "buy him out" of his share. We have 3 quotes, 2 by real estate agents & one by an appraiser.
    my question, should there be a real estatd fee charged to my husband by his brothers? Ontario, Canada
    Thank you & I look forward to your reply
  • Nick Dee | 04 Jul 2015, 08:59 PM Agree 0
    If acquired before 20 September 1985....
Post a reply