Clever Steps to Take to Avoid Paying Capital Gains Tax When Giving Away Property
June 8, 2023 ⚊ 1 Min read ⚊ Views 53 ⚊ BLOG
Donating property to a loved one is an act of generosity and thoughtfulness, but it can have serious financial consequences. Many people who are thinking about making a property donation are concerned about the impact of capital gains tax (CGT), which can eat away at a sizeable chunk of the value of the gift. However, with forethought and an understanding of the applicable tax regulations, the capital gains tax on gifts of property can be reduced or even avoided entirely. In this article, we’ll discuss some strategies that can help you get the most of property donations while minimising capital gains tax.
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