on 9 May 201903:58 PM - last edited on 15 May 201903:54 PM by SueATO
An older couple owning a rental property is intending to transfer a one half interest in the property to their daughter and her partner, who are both already living in the property. They are paying Capital Gains Tax on the transfer of the half interest. The four of them will then own the property as joint proprietors.
Assuming the daughter and partner continue living in the property as their principal place of residence, if the property is sold in four or five years time, will Capital Gains Tax be applicable on the parent's half interest?