C
Champs said:Hi,
I've recently rented out a house i bought a little over a year ago and was wondering will i have to pay Capital Gains on the profit if i sell it or does it depend on when i sell it?
Thanks
gidxl03 said:If you put money in a bank an it rises only with inflation then you haven't made a gain. But if it is property, you'll actually lose 20%.
Example 1
2004: Buy house 300K
2014: Sell house 1000K CGT = (1000-300) x 0.20= 140K
2024: Selling house 3000K CGT (3000-300) x0.20= 540K
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