How to complete a Rental Property Schedule when there is a Sale.

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ERICHCLOW

(Enthusiast)Enthusiast

13 Sept 2023

How to complete a Rental Property Schedule when there is a Sale.

There are 2 items I need some assistance with -

(1) Value of Capital Allowances recouped on the Sale of the Property

(2) Value of Capital Works Deductions recouped on the Sale of the Property.

I take these to mean what's been claimed in respect of those 2 items from the Acquisition Date to the Sale Date of the property ... Am I correct?

Many thanks in anticipation of some assistance!

Cheers! ERIC

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Bruce4Tax

(Taxicorn)Taxicorn

14 Sept 2023

Div 40 and Div 43 can be claimed up to the date rent ceased.

Total amounts claimed under Div 40 and Div 43 for the whole period of rental reduce the CGT cost base.

Best to get proper advice on CGT.

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Bruce4Tax

(Taxicorn)Taxicorn

14 Sept 2023

Div 40 and Div 43 can be claimed up to the date rent ceased.

Total amounts claimed under Div 40 and Div 43 for the whole period of rental reduce the CGT cost base.

Best to get proper advice on CGT.

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ERICHCLOW

(Enthusiast)Enthusiast

14 Sept 2023

@Bruce4Tax

Thanks for the affirmation of my understanding.

My question is -

Are these the amounts to insert in the 2 boxes I mentioned?

(the total of these 2 amounts claimed to the date of sale?)

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How to complete a Rental Property Schedule when there is a Sale.

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