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

Deceased estate tax implications

Notify me of new replies via email
inkster | 11 Dec 2017, 09:14 PM Agree 0
I will inherit my parents house (deceased estate) and they bought it in 1986 for $85,000. It is valued now at $550,000. If I use this property as an investment property, does it mean that I have to pay CGT when I sell it after 5 years or so? So the CGT will be sale price - $85,000 / 2? This seems like a high price to pay for only 5 years investment. Am I looking at this correctly?
Will it be better to use the property as our main residence instead of an investment property? What then happens if we sell this main residence 5 years later?
  • Property88 | 12 Dec 2017, 01:36 PM Agree 0
    Hi there, we can send this to one of our tax experts if you like? Please email us at editor@yipmag.com.au if so. cheers, Editor
Post a reply