Noel Whittaker's Blog
By Noel Whittaker
Capital gains tax on the home continues to baffle people. In a recent email a reader wondered about the position when a person moved into a new home, and rented out the original one. He asked if they can they nominate which is their principal place of residence, and also what address to put on …
Recent figures from the Australian Bureau of Statistics (ABS) state that only 56% of people aged 55–64 are mortgage-free, and there are fears that more and more Australians will find their retirement plans seriously challenged as they try to survive on a reduced income, with mortgage payments to boot. The problem can be solved by …
Capital gains tax on the family home has always been a confusing topic. For starters, your home is exempt from capital gains tax (CGT) provided it is in the name of the homeowners personally, and not in the name of the family trust or a company. Also, you can be absent from your home, and …