My wife and I were thinking about selling my property. We are planning to buy a house. now we are living at my husband’s place. He has a beautiful apartment, but we both want a house. Can you tell me more about CGT on selling rental/investment property within a short period of time?
I think that you are liable for capital gains tax. If you were selling your private residence you would be in a situation that is an exempt from capital gains tax or CGT. Still this is only my opinion. To be a hundred percent sure you should consult with a financial adviser about it. That way you will know for sure.
