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Proportionate share of cgt

Posted 9 February 2014 under Tax Questions


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How do I calculate Capital Gains Tax where 3 people own the property (35.5%, 35.5% and 29%) but only the latter 2 of them have primary residence?

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TaxTimTaxTim says:
10 February 2014 at 21:25

You would need to apportion the primary residence exclusion, but would first have to allocate the capital gain based on the percentages owned.


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