Hello all,
I have the following situation and would appreciate advice:
Own house. Principle residence. Approx 80K equity in house.
Own 50% of apartment. Rent out. Rent covers mortgage.
I would like to sell my own house and, for several reasons, dont plan on purchasing another one.
If I sell my own house am i liable for CGT?
I own the house appprox 2 years and didnt pay stamp duty. Will i be liable for clawback etc?
Also are there other taxation issues I would need to consider.
The apartment would remain as a rental property. i.e I dont plan on movingthere.
Thanks for your help,
Pokerhead.
I have the following situation and would appreciate advice:
Own house. Principle residence. Approx 80K equity in house.
Own 50% of apartment. Rent out. Rent covers mortgage.
I would like to sell my own house and, for several reasons, dont plan on purchasing another one.
If I sell my own house am i liable for CGT?
I own the house appprox 2 years and didnt pay stamp duty. Will i be liable for clawback etc?
Also are there other taxation issues I would need to consider.
The apartment would remain as a rental property. i.e I dont plan on movingthere.
Thanks for your help,
Pokerhead.