Liable for CGT??

Q.

A friend of mine moved into a house bought by his daughter some 15 years ago. He has paid the mortgage and rates etc over the full period and recently paid off the property in total from a super withdrawal. He has lived in the property throughout the period and was wondering what would be his position/liability if the title was transferred to him by his daughter for CGT and other tax purposes. Would he be liable for CGT and if so could he claim all the costs associated with living in the property ie improvements rates etc?

If the property was always owned by his daughter, all the CGT on the sale will have to be paid by her. I suggest you canvass the options with your accountant before any documents are signed.