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CGT when selling your rental property
Posted by Team AVS on 23 Jan, 2025 0 CommentsHow CGT applies to your rental property and what expenses you can include in your costs.
How capital gains or losses apply
When you sell or dispose of a rental property you may make a capital gain or loss.
A capital gain or loss is the difference between what it cost you to obtain and improve the property (the cost base) and the amount you receive when you dispose of it.
If you make a:
net capital gain in an income year, you'll ge
Foreign residents disposing of taxable Australian property Foreign residents are subject to capital gains tax (CGT) on the disposal of taxable Australian property (TAP). In contrast, foreign residents (except beneficiaries of resident non-fixed trusts) can generally disregard a capital gain or loss from a CGT event (such as a disposal) relating to non-TAP assets. TAP comprises of:
taxable Australian real property (TARP)
indirect interests i
taxable Australian real property (TARP)
indirect interests i
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