What are some CGT exemptions, Rollovers & Concessions? Is your family home exempt?
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
Capital Gains Tax can be a complex area, a number of assets are exempt from CGT, including your home, car, and depreciating assets used solely for taxable purposes. If CGT applies, you may be able to discount your capital gain by 50%. There are a number of other exemptions, rollovers and concessions. Its important each case is assessed according strictly to the circumstances & facts presented. I hope this assists.Leave a Comment 431 weeks ago