Capital Gains Tax

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Capital Gains Tax

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popcorn

Posts: 2
Joined: 8/6/2001

Capital Gains Tax

If you sell a property and you make a profit from it what is the law regarding Capital Gains Tax ? What if you don't put the money directly into another property?

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Report Abuse | Date 9/8/2001 1:57:00 PM

The Law

Posts: 56
Joined: 5/8/2001

Capital Gains Tax (in reply to popcorn)

It depends if the property is your principlew private residence or not. If it is, then there is no tax payable. If it is not, then CGT will apply.

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Report Abuse | Date 9/8/2001 2:27:00 PM

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