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Tax Q&A: Your Capital Gains Tax questions answered

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Your Investment Property | 14 May 2015, 12:00 AM Agree 0
Our tax experts explain how to get the full benefit of the CGT six-year rule and how CGT on an inherited property works.
  • Curious | 09 Jan 2016, 12:42 AM Agree 0
    So, if I now use my previous principal place of residence for income generating purpose, and now have another principal place of residence,
    1 Is there any capital gains tax exemption period at all [possibly six years if I didnt have another PPR],
    2 When I sell the PPR, how is the capital gain calculated? Is it the selling price minus the valuation I obtained by a real estate agent at the time I started renting it out, or is the gain calculated over the total time I have owned the property and equally apportioned to each year, say 20 years, and the final 5 years say, when it was rented being 1/4 of the total time therefor accounting for 1/4 of the total ain that is subject to CGT?
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