How will the capital gains tax be calculated on a home that becomes a rental property?
You’ll find out as you watch this week’s Ask the Tax Expert video as Ken Raiss answers Hamish’s question which is quite common as for many people their first home isn’t their final home and turns into an investment.
Ken also explains exactly what Capital Gains tax involves and how whether you put a tenant into your home before you live there or the other way around makes a big difference.
He also explains the 6 year rule for exemption of your home from Capital Gains Tax.
Disclaimer
This is general information only and is intended as educational material. Neither Metropole Wealth Advisory nor its associated or related entitles, directors, officers or employees intend this material to be advice either actual or implied. You should not act on any of the above without first seeking specific advice taking into account your circumstances and objectives.
from Property UpdateProperty Update https://propertyupdate.com.au/ask-tax-expert-video-will-capital-gains-tax-calculated-home-becomes-investment-property/
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