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Capital Gains Tax on Inherited Property

Aug 1, 2022 | Taxation, Taxes

If I sell the property I inherited, do I have to pay Capital Gains Tax?
Special rules exist that enable some beneficiaries or estates to access a full or partial main residence exemption on the inherited property.
Assuming the house was the main residence of the deceased just before they died, they did not then use the home to produce an income, and the other eligibility criteria are met, a full exemption might be available to the executor or beneficiary.
To find out more about your specific situation, make an appointment with us by calling our friendly team at the office on 07 4944 0449.