Offsetting CGT in Australia
Question from michael updated on 4th July 2018:
I recently sold a apartment in Australia and will be up for capital gains tax. Can my rental losses from this property be used against the capital gain as I don't receive a income in Australia?
Our expert Mark Withers responded:
I believe there is an offset as the true gain on the asset can only be fairly determined by netting a gain from disposal off against the cost of retaining it.
Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.