The proposed transaction
Understand the purchase, sale or change in ownership, including the parties and key dates.
PROPERTY TAX · SALES & OWNERSHIP CHANGES
Capital Gains Tax
Considerations
Tax advice for a property sale or ownership change, based on the transaction, ownership history and your circumstances.
Discuss a property transactionCampbelltown · Established in 2010HOW WE HELP
Before the transaction,
understand the tax.
For property owners considering a disposal or ownership change, or preparing a return after a transaction.
KPA discusses capital gains as part of its property and tax-planning work. We review the facts and records before considering the tax consequences, potential planning opportunities and connected return work.
SUPPORT WITH THIS SERVICE
Ownership & use history
Review how the property has been held and used, including rental periods, private use and changes over time.
Capital gains & tax planning
Discuss the CGT position and whether exemptions, discounts or other provisions are relevant. No particular outcome is assumed.
Records & return preparation
Identify relevant purchase, sale and cost records and discuss the reporting required as part of your tax work.
- 01 / DISCUSS
Explain the transaction before committing where possible.
- 02 / ASSESS
Review the ownership, use history and relevant records.
- 03 / PLAN & REPORT
Discuss the tax implications and agreed return work.
KEY CONSIDERATIONS
The contract date can be important.
For a property disposal under a sale contract, the CGT event generally occurs when you enter the contract, rather than at settlement. Australian tax-resident sellers should also address ATO clearance-certificate requirements before settlement to avoid foreign resident capital gains withholding.
BEFORE WE TALK
A useful starting point.
Begin with the property, who owns it and the transaction you are considering. Keep both contract and settlement dates available, along with the property’s history.
Contact KPA before sending financial records or sensitive documents.
Records to have in mind
- Purchase and sale contracts and settlement statements, where available
- Ownership details, ownership shares and acquisition dates
- A timeline of rental, main-residence, private and business use
- Records of relevant purchase, improvement, holding and sale costs
- Existing capital works or depreciation information
- Valuations and documents relating to ownership changes, where relevant
- Any ATO clearance certificate or withholding correspondence
COMMON QUESTIONS
Before you enquire.
Should I contact you before signing a contract?
Where possible, yes. The contract date is generally relevant to the CGT event, so an early discussion helps identify the tax questions and records before the transaction proceeds.
Can the result be worked out from the sale price alone?
No. The property’s purchase and cost records, ownership, use history, transaction dates and your circumstances can all affect the tax position.
Is the main residence exemption automatic?
No outcome should be assumed from calling a property your home. Tell us when you lived there, when it was rented or used for business, and how ownership changed so the relevant exemption questions can be considered.
Can this be included in my tax return work?
KPA can discuss the property transaction alongside your tax return. We confirm the records needed and whether separate advice or calculations are required.
TALK TO KPA
Discuss the tax before the property changes hands.
Tell us what is proposed or completed, and the contract and settlement dates.