Husband & wife own 50% each of an investment unit sold. Wife earns $120K but Husband is under the tax-free threshold. Is it possible to add the combined 100% CG in the husband's tax return to reduce the CGT liability?
Husband & wife own 50% each of an investment unit sold
Thanks YP. Yeh, thought as such. Just thought things might have changed over the years. Worth an ask. Ta
If their beneficial ownership is 50/50 then this is how the CGT event is reported. If unit sold this year some good tax planning can minimise tax - super contribution deductions (using carry forward concessional caps if possible)
Thanks Tax Duck. Would have been nice to reduce the tax but hey... is what it is. Thanks again
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