Kicking a tenant out

redsmartie said:

You should have done your homework bud, and it's 30 days after exchange if you sell. Wait till you see how much it costs to sell your property.

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lukeaye said:

yeah i can only imagine. Im scared to even look. Obivously i will dodge capital gains tax though./QUOTE]

Actually - if you have claimed any of the rental expenses as a tax deduction then you dont dodge all the capital gains. The tax department will tax you on the % of capital gains that was used to "earn" income (rent) or deductions.

So if you rent out 2 bedrooms out of 3 they may tax you on as much as 2/3 of your capital gains!

They will always get you one way or another!!

malachii

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