The investment property in question was bought in 2016/2017 under my then-wife’s sole name, but funded by us in equal shares. As a mutual investment, she kept a journal of all cash flows which was shared with me periodically.
After the divorce in 2021, the property was marketed and finally sold in FY23, as per court order. This finalised the journal and she transferred half the ending value to my account.
In summary,
- The property had always been managed under my ex-wife’s name.
- On my balance sheet, the investment is more like a private fund.
- We reported tax separately.
Should I consider this investment a property or a fund/share in terms of CGT reporting?
If it is treated as a property, although being odd since it has never been in my name, while I report half of it, my ex-wife should also report only a half to avoid double taxation. Is that correct?
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268 views
2 replies