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Thread: Capital Gain Tax

  1. #1

    Capital Gain Tax

    Hi there, I need an advise on Capital Gain Tax.

    Six years ago I had owned a property for 27 months and out of 27, I lived in it for 15 months then let it for remaining 12 months and sold it. This was the only property I owned back then. Now my question is, am I liable for CGT ? I believe I am not, as I disposed it in less than 36 months. If you are accountant you know what I am talking about.

    I really appreciate if any accountant there would clarify for me or anyone who had similar experience in the past please.

  2. #2

    Capital Gain Tax

    Quote Originally Posted by royalman View Post
    Hi there, I need an advise on Capital Gain Tax.

    Six years ago I had owned a property for 27 months and out of 27, I lived in it for 15 months then let it for remaining 12 months and sold it. This was the only property I owned back then. Now my question is, am I liable for CGT ? I believe I am not, as I disposed it in less than 36 months. If you are accountant you know what I am talking about.

    I really appreciate if any accountant there would clarify for me or anyone who had similar experience in the past please.
    I am still waiting for a reply. I hope someone out there has an answer to my query.

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