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Post Info TOPIC: Selling a residential home - Capital gains tax implications


Guru

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Selling a residential home - Capital gains tax implications
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Hi,

I would appreciate it if you can provide guidance on the below:

What are the capital gains implications on the below:

1. Large garden which was part of a residential home is sold off

2. Residential home is sold but the large garden is kept and the garden is then sold at a later date

3. Residential home is sold as one i.e. house and large garden

Regardless of how the sale goes through, the proceeds from the sale will be re-invested into buying a larger family home.

I would appreciate it if you can help with what the tax implications on the above 3 items would be

Thanks in advance

 



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Thanks, Nadia.



Senior Member

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Posts: 205
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One question, is this property the sellers private principal residence?

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Your local accountant

 

 

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