I need advice on what capital gains tax I would have to pay if I sold a residential property that I have been rented out. I know that there are changes proposed in 2020 & need to make an assessment of it is worth it or not to keep renting the property out.
I only own 1 property.
I purchased and lived in this property as my main residence for 7 years and7 months before renting it out.
It has been rented out for 9 years and 2 months now.
If I was to sell this property how much capital gains tax would I owe?
Do I only pay capital gains for the % of the time that I have rented the house out? I.e. I would not be liable for the time that I actually lived in the house as my main residence?
What are the new rule for capital gains tax coming in in 2020 & how will they affect me?
Do you hold webinars on capital gains tax? I have looked online at the info on capital gains tax and it doesn't answer my questions above.