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MD says: 16 July 2015 at 8:18 I own ONE property which I previously resided in (property A). I now rent this property (A) out to other people and reside in a different house which I rent from someone else. I have now sold the property (A). I owned the property for 9 years of which I resided in it for 6 years (rented out the first year and the last /- two years). Given that it is the only property that I own and I previously resided (Sch8 s44(b)) in it, will the sale qualify for the primary residence exclusion in terms of CGT? |
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TaxTim says: 16 July 2015 at 19:47 You will have to apportion the property over the 6/9 years and pay full CGT on the 1/3rd of the gain you made for the period you rented the property. Try our capital gains calculator |
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