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floris
Apprentice
Joined: 17 Dec 2005
Posts: 5
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 Posted: 02/25/08 - 10:03 Post subject: |
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| I’ve decided to sell the part of my property to my daughter. I know that this sounds strange to you since you probably think that I should give it to her, but since she makes a lot of money and I have only modest income, I think it’s fair that she pays me. Can you tell me whether CGT is necessary when selling the property to my daughter? |
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lenci
Apprentice
Joined: 01 Aug 2004
Posts: 9
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| Posted: 03/26/08 - 03:31 Post subject: |
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| Um, I think this is a question that requires an expert’s opinion. I don’t know, but I think that you shouldn’t pay CGT. I know that there is that catch when you sell your primary residence, but I don’t know what happens when you sell it to your close relative. Why didn’t you just give it to her and she could give you money for support? I think that maybe you should reconsider all the options and see which one is the best for you. It’s not the same tax when you sell your property and if you just give it your children as a present. The taxes are maybe lower. So do anything yet until you’ve observed all the options you have. |
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