capital gains tax

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now

noillim

Well-Known Member
8 January 2015
25
0
121
cairns and nsw
three siblings inherit dad's house, one is living there as well as a nephew. It was their dad's primary place of residence. They are doing probate now is it better to up the value of a property so that if it sells =for more -you do not have to pay capital gains tax. Or if beneficiaries are living in the property can you be exempt from capital gains tax.
They are not sure if they want to sell dad's property or keep it for their family to use-two sibliungs for health reasons are not working and one of the other siblings has been retrenched and is now on centrelink and is too sick to work as well. My email [email protected]