Most people are aware that they don’t have to pay Capital Gains Tax (CGT) if they sell their home for more than they paid for it. This “profit” is essentially tax free.
Like any other general rule, however, it can be a bit more complicated than that – this is particularly the case if you have two homes. Does the exemption apply to both properties or is there some way of choosing between the two of them? Unfortunately, it is the latter.Read this post