I have had clients on several occasions ask me what happens when they buy a property for an adult child and then some years later when the child is more able to borrow money and the value of the property has increased, buys the property off the parent at the price the parent [...]
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When a block of land is subdivided into seperate registered titles and the ownership of the land does not change then there is not a Capital Gain. On the sale of the subdivided block, then there is a Captital Gain event. The original cost base of the land is divided between the blocks [...] Below are some relevant dates for capital gains tax calculations 20th September 1985, that’s the day it started, was a Friday…. what a great start to a weekend 11.45 am 21st September 1999 (eastern standard time) is when the Discount Method for calculating the capital gain was introduced. The contract date on the sale [...] Introduction of new law applying to the demutualisation of health insurers On 26 June 2008, the Government introduced a Bill into Parliament to change the law relating to the capital gains tax (CGT) treatment of policy holders of health insurers who receive cash or shares when their health insurer demutualises. The proposed changes are [...] You have some shares that were from the demutualisation of an insurance company. I have compiled a list of shares that I frequently get asked what the original cost of the share was. Below is a list of those shares:- Company Date Cost Base National Mutual/AXA 7/11/96 $1.17 Colonial Mutual (now CBA) 19/5/97 $3.31 [...] Are you selling your Telstra 2 Shares that you bought in 1999. The original instalment was $4.50 on the 15/10/1999. The second instalment of $2.90 was on the 2/11/2000. The total purchase price being $7.40 bought on the 15/10/1999. Are you selling your Telstra 1 Shares that you bought in 1997. The original instalment was $1.95 on the 3/11/1997. The second instalment of $1.35 was on the 13/11/1998. The total purchase price being $3.30 bought on the 3/11/1997. |
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