Question 1: I am a 65-year-old self-funded retiree. I have an investment property which provides me with enough money to live on. I have spent around $120,000 on repairs and replacements to maintain the 100-year-old property. Will I attract CGT on the sale of this property when I sell next year? TIA
A capital gain (or loss) is the difference between what you paid for an asset and what you sold it for (less any fees incurred during the purchase).
