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Re: CGT on Investment property during divorce

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I'm new

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My ex and I sold our investment property 2018-2019 financial year. I have done my tax with my accountant but feel there is something wrong with the CGT calculations (to which they reply no there isnt). I feel that the CGT to be paid has been entirely added to my tax return, not split 50% payable between my ex and myself. Is there a way I can find out if this has been done correctly (besides going to another accountant?). Thanks for any help

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Best answer

Taxicorn

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First of all, request a Full copy of your tax return ASAP.

 

Then check exactly what the split was for CGT.

 

If it was not split evenly then they should do an amendment free of charge as it was their fault.

 

See if you can talk to the manager or most senior member.

 

2 REPLIES 2

Best answer

Taxicorn

Replies 0

First of all, request a Full copy of your tax return ASAP.

 

Then check exactly what the split was for CGT.

 

If it was not split evenly then they should do an amendment free of charge as it was their fault.

 

See if you can talk to the manager or most senior member.

 

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Superuser Registered Tax Practitioner

Replies 0

Hi Rach0101

 

If a Capital Gains Worksheet is attached to your tax return, see if 'assassable amount' is 50% of total gain reported.

 

One Stop Tax

Tax Return and Tax Back Specialist

https://onestoptax.com.au/