Show download pdf controls
  • Selling a property

    If you sell an investment property or your main residence that you have rented out, remember:

    • you may have to pay capital gains tax, even if you transfer the property into someone else’s name
    • capital gains tax is the difference between your cost base (costs of ownership) and your capital proceeds (what you receive when you sell the property or the market value when you transfer the property)
    • if you have claimed a capital works deduction in any income year your cost base should not include these amounts
    • if you own the property for more than 12 months, you will be entitled to a 50% discount on tax on the capital gain.
      Last modified: 03 Aug 2017QC 18218