Do you include an inheritance of a house when calculating taxable income before you dispose it?

If you inherited a house then there is no tax on the actual inheritance, however the value of the house on the day you inherited it will be the base cost for Capital Gains Tax purposes. When you eventually dispose of this property, it will be subject to Capital Gains Tax.

Last Updated: 28/02/2014 10:59 AM     print this page
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