I'm hoping someone has advice for me. When my father was alive, his property was being paid off by my siblings. Some of my part was paid by my father.
If we sell his place, we have to pay capital gains tax because my siblings all have properties of their own which I don't have.
I want to be fair with my siblings because they have helped me.
Anyone got any tips please?
Permalink Reply by Sue on November 2, 2009 at 3:04pm
Firstly Marie, if the the property was owned by your father & in your father's name outright - there is no Capital Gains Tax whatsoever. You then have 2 years to sell the property & do not have to pay any tax at all. But if the property was in the names of your father & siblings then it becomes part of probate etc...
Hi Nikky,
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