Not sure what the estimated calculations would be?
Pulled out $101k from inheritance, salary tax bracket $85k package, QLD property purchase price $310k - hoping to sell for $400k+ ..
Blacktown property was inherited in 2009 and has been used as an investment property collecting rent for the last 5 years.
I have no other loans or properties however looking at purchasing a PPOR within next 3 months... could this help offset??
I have recently sold my inheritance property on the 20/10/14 which is located in Blacktown NSW. I would now like to sell my investment property located in Surfers Paradise QLD next January 2015. However I would like to know if there are any ways to Reduce Capital Gains tax?
My Tax Accountant...