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gay
Apprentice
Joined: 10 Dec 2006
Posts: 5
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 Posted: 03/10/08 - 07:21 Post subject: |
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| My family owns a house we live in, but I am planning to buy some property and build a second house there. We’re planning to keep the old house and keep living in it. My daughter is 16 years old and I would like her to move there in couple of years, but my wife thinks that it would be better to sell that other house. So, while we’re deciding what would be the best thing to do, I need help regarding CGT on second property which I will build by myself. |
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wilhelmine
Apprentice
Joined: 22 Aug 2006
Posts: 2
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| Posted: 04/09/08 - 03:54 Post subject: |
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| Your CGT will primarily depend on your decision about selling a house. The good thing is that you have time to decide whether to sell it or not. I believe that it is between 12 and 36 months. It would be the best to consult a professional about this, because later can be too late. Also, do not tell anyone that you are considering selling it, since you still haven’t decide what to do. However, there is possibility that you’ll have to pay some taxes if you decide to make a gift to your daughter, but not necessarily. |
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