the CGT payable on the asset will depend on the purposes of the asset, if its your family home no if its an investment asset then possibly yes. It would be good to confirm this with a tax accountant prior to the sale so there are no surprises
Moving from a cumilative phase to pension phase is the remaining money still invested in the super fund. E.g you take 5% of $100000 = $5000 per annum and the remaining $95000 is still invested getting an average 8% growth.
@@jameshind6644 moving to pension in the majority of situations has no impact on the underlying assets. It’s change from accum to pension and you select your percentage. Always check with your specific fund as some funds move to cash start a pension and then need a new allocation.
If I am on the pension and I sell a house I have had for a long time.will I pay no cgt?
the CGT payable on the asset will depend on the purposes of the asset, if its your family home no if its an investment asset then possibly yes. It would be good to confirm this with a tax accountant prior to the sale so there are no surprises
Moving from a cumilative phase to pension phase is the remaining money still invested in the super fund. E.g you take 5% of $100000 = $5000 per annum and the remaining $95000 is still invested getting an average 8% growth.
@@jameshind6644 moving to pension in the majority of situations has no impact on the underlying assets. It’s change from accum to pension and you select your percentage. Always check with your specific fund as some funds move to cash start a pension and then need a new allocation.