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Question about capital gains tax

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  • Question about capital gains tax

    Hello

    My friend and I bought a house together 5 years ago and have been living there as our primary home every since. She will be relocating for work at some point and I am considering moving to a smaller place after that. We don't want to sell it but not sure what our other options are. We were thinking about renting it out but would we then be liable for capital gains tax when we do come to sell? Any advice would be greatly appreciated.

    Thanks

  • #2
    Re: Question about capital gains tax

    Hi Bunny,

    You will be liable from the time you rent the property out not from when
    you purchased and lived in it. All you need to do is keep proof then when
    you sell notify your accountant and lawyers and give them proof of when
    you started renting the property out

    Ged
    http://www.premierexpatmortgages.com
    [email protected]

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