Sold rental property, how much CGT to pay?
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ruddie
Apprentice
Joined: 20 Nov 2005
Posts: 3
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 Posted: 03/04/08 - 09:37 Post subject: |
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| Last week my partner has arranged to sell one of my rental property in order to buy another, more attractive. When the deal ends, what will be the sum of capital gain tax to pay? It is a building with 4 apartments, windows looking straight to the sea; I bought it 20 years ago from my inheritance, now I saw a better opportunity. It seems like CGT can change my plans? |
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garik
Apprentice
Joined: 29 Dec 2006
Posts: 7
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| Posted: 04/03/08 - 01:17 Post subject: |
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| What could I tell you, there is always a problem concerning CGT, especially when your estate grows and develops. I had the same problem with my house, when I was selling it, last year. It was rented and, rarely, I was using it to stay in it for a few weeks, than I had to sell it because of financial difficulties. When I saw tax looses I was astounded. |
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