Do my parents have to pay capital gains tax from the sale of their family home being on a pension/retired? if yes can they avoid this by other means?
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It depends.
Is the home eligible for the main residence exemption (MRE) ?
Or was the home purchased before 19 September 1985 ?
You really should have a meaningful discussion with an experienced accountant.
Ask your friends and colleagues to recommended a Chartered Accountant, CPA, or Chartered Tax Adviser.
S/he can describe and discuss the many relevant taxing issues, and help you conclude good outcome/s.
Don't forget that any "free advice" you receive in this forum, is worth what you paid for it, ie nil (GST included).
This link provides information on the main residence exemption (from Capital Gains Tax)
Thank you for that link its most helpful
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