Quote Originally Posted by Winston001 View Post

The problem is defining a private home. What do you do if you own rental properties in the names of your children and move into each house as your "domicile" before selling? There are legal and illegal ways round CGT if exemptions are allowed.

If everyone was taxed the same, selling prices would drop to allow for it, otherwise nothing would ever sell.
Isn't that the problem though. The have nots quibbling over the scraps.
Lets not try and be fair. I hate to have to be the one to tell you this but life is not fair.
It's just the way it is.

I get ill and I get shit. Someone else has an accident doing something stupid and someone pays them for it.
Is that really fiar?

So how about we go for the vast majority and not get all cry baby if we don't get everyone eh.

And in answer to your question there are numerous ways this could be handled. Intent is already part of the law - why not use that?
Or we could augment intent with x number of years - that also is part of the law, albeit perhaps case law.

How would tax cause prices to drop?
if I'm to pay tax when I sell my place I'm going to want top dollar thanks.
They have CGT in America and have had for many years. where did the sub prime mortgage fiasco start?
What even preceeded the recent recession? Hint - The sub prime mortgage fiasco. Sure there were other forces at work there also - but it resulted from over priced housing so how did that go for the CGT? Great result, I'm all for it.