Ask Max: Your questions answered

Capital gains on inherited property, the ins and outs of in-specie transfers, life insurance and the work test.

My father bought a house in 1972 and passed away in 2003, leaving the property to myself and my brother. My kids moved into this property and live there rent-free. Three years later I bought my brother out, with my kids still living in the property rent free. The whole time I have lived in my own house with my wife, and only ever lived in the inherited property growing up as a teenager. If I were to sell this property, would there be any capital gains tax? If so, can this be minimised?

There will be capital gains tax payable by you when you sell the property. The calculation of how much capital gain has been made will be complicated due to your ownership of the property being made up of two different parts.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles