Do you pay Capital Gains if property is primary residence?
Jun 7th 2005, 4:12 am
#1
BE Forum Addict
Thread Starter
Joined: Dec 2004
Location: A land far far away
Posts: 1,149
Do you pay Capital Gains if property is primary residence?
Just wondering..........if we bought something, renovated it and then wanted to sell it within the first year would we have to pay capital gains on it? I know you do if it's an investment property.
Jun 7th 2005, 4:36 am
#2
Guest
Posts: n/a
Re: Do you pay Capital Gains if property is primary residence?
Originally Posted by The Jones Family
Just wondering..........if we bought something, renovated it and then wanted to sell it within the first year would we have to pay capital gains on it? I know you do if it's an investment property.
Even then, the ATO would have to treat you as if you are doing it for a business.
Jun 7th 2005, 6:47 am
#3
BE Forum Addict
Joined: Nov 2004
Posts: 2,584
Re: Do you pay Capital Gains if property is primary residence?
Originally Posted by ABCDiamond
Not unless you do it on a very regular basis Even then, the ATO would have to treat you as if you are doing it for a business.
Even then, the ATO would have to treat you as if you are doing it for a business.
