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TAX PLANNING FOR OWNERS OF INVESTMENT PROPERTY
Published on 16-05-2019Email To Friend    Print Version

From 6 April 2020 significant changes are coming into effect for individuals selling investment property.  These are:
  1. A CGT return will be required to be submitted within 30 days of completion and the Capital Gains Tax (CGT) paid; and
  2. If  the  property being sold is residential and has been your Principal Private Residence (PPR), the reliefs currently available are significantly reducing.

Start planning now!!  Please click on title for further detail.


We are urging anyone owning a property to calculate the base cost of the property.  This will require:
1    Date of acquisition;
2    Cost price + disbursements (legals + stamp duty etc.);
3    Details + proof of any property improvements effected since acquisition;
4    If bought before 6 April 1982 a professional open market valuation as at 6.4.1982;
5    If you are an overseas owner an April 2015 professional open market valuation as at 6.4.15;
6   If the property was your PPR we recommend drawing a time line of ownership and occupation.

From 6 April 2020, if the property being sold has been your Principal Private Residence, the reductions relevant to the final period of ownership (reducing from 18 months to 9 months) and the likely loss of let property relief will probably increase your final CGT liability.

If you require assistance with a professional valuation, please contact us and we would be pleased to refer you.



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