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When is capital gains payable?

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  • 15/09/2020 at 2:22 pm #531
    JaySang
    Participant
    This may be a dumb question. I’ve always been into the buy hold strategy and we have 3 properties right now but looking to sell 1 since the market is good and we have another strategy in mind.
    When you sell, when is capital gains tax payable? Do you pay at sale or at tax time?
    15/09/2020 at 5:48 pm #540
    LumberJack
    Keymaster

    Hi Jay,

    You pay your capital gains tax with your tax return. I believe its based off the date the contract is signed.

    • This reply was modified 4 months, 1 week ago by LumberJack.
    16/09/2020 at 3:39 pm #555
    JaySang
    Participant

    Great thanks for that

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