Hi all :)
i have a couple of questions in regards to CGT for anyone more knowledgeable on the subject. Obviously i will be going to my accountant soon but just wanted to have any relevant paperwork i needed.
I sold a vacant block of land last financial year at a higher price than purchased around 9 years ago so obviously will attract CGT. Couple of questions.....
# I had a bank loan for the land and paid a fair amount of interest over the years, is the interest paid used to offset capital gain?
# Are any capital losses due to shares sold able to offset capital gain on the land? (i have losses brought forward over the years from share invesments)
# Are the council rates/water charges i paid over the years used to offset capital gain?
Cheers for any reply. Obviously my accountant will instruct me on all of the above, just trying to go in with a little heads up :)
- Forums
- General
- cgt question
cgt question
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online