Labour says grace period 'likely' for capital tax on deceased parent's home

Thu, 04 Sep 2014

By Pattrick Smellie Sept. 4 (BusinessDesk) - The Labour Party says there will be a "grace period" on the sale of a deceased parent's home before applying capital gains tax to its sale, but exactly how long has yet to be determined. In response to National Party claims that a deceased parent's home would have to be sold within a month of their death to avoid being caught by Labour's proposed capital gains tax, a Labour spokesperson told BusinessDesk by email "there is likely to be a grace period but details such as this will be worked out...

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