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RC01(Dynamo)Dynamo
30 July 2024

Dear all


I have an enquire about main residence CGT issues, if anyone can help me about it.


The scenario is a client rented out her main residence property and lived in other place. During the renting period, she prepared a depreciation report and claimed Div40&43 as deductions. Then, two years later she moved back and sold this property. She used 6 year rules and treated this property as her main residency.


My question is if CGT exemption apply the whole capital gain? How to treat the claimed Div 40&43?


Thanks a lot.

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229 views
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Taxduck(Taxicorn)Taxicorn
30 July 2024

CGT exemption. Don't do anything.

If depreciation was claimed for existing fixtures and fittings then this is not an allowable deduction (second-hand assets)

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