Hi
I've bought a property A in Dec 2001 and sold it in Apr 2015.
I also bought another property B in Dec 2014 on a home loan.
With the funds received from selling house A, I repaid most of the home loan of B. I put the entire amount received from sale of A into home loan of B.
Am I still liable to pay capital gains tax from the profit of A?
Are there any similar judgements that can be referred to for this?
I've bought a property A in Dec 2001 and sold it in Apr 2015.
I also bought another property B in Dec 2014 on a home loan.
With the funds received from selling house A, I repaid most of the home loan of B. I put the entire amount received from sale of A into home loan of B.
Am I still liable to pay capital gains tax from the profit of A?
Are there any similar judgements that can be referred to for this?