Assets for Care
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Assets for Care

A guide for lawyers to assist older clients at risk of financial abuse

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Capital gains tax

There may be capital gains tax implications for your client or their family members in selling their home, renting it out, or giving it or other assets away (for example, a property that is not their main residence).

See also Phillips 2008, pp. 9–18 on pensions, reverse mortgages, superannuation and financial planning advice; and pp. 43–79 on residential aged care.

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  • Financial abuse
    • Definition
    • Signs of abuse
    • Abusive transactions
  • Lawyer’s role
    • Professional duties
      • Avoid conflicts of interest
      • Advise fully
      • Re capacity and influence
    • Interviewing older clients
    • Being aware of diversity
    • Human rights
    • Costs
    • Referring clients
    • Advice checklist
  • Capacity
    • Is there capacity?
    • How is capacity assessed?
    • Evidence of incapacity
    • Strategies to reduce risk
      • Expert assessment
    • Client lacks capacity
  • Preventive steps
    • Family agreements
      • Form and features
      • Issues to canvass
      • Drafting checklist
    • Centrelink issues
      • Gifting
      • Granny flats
      • Reverse mortgage & home reversion
      • Nominees
      • Carer benefits
      • Centrelink waiver
    • Financial and tax implications
      • Reverse mortgage & home reversion
      • Accommodation bonds
      • Capital gains tax
      • Stamp duty
    • Planning law
    • Wills
  • Relationship breaks down
    • What is the relevant law?
    • Taking instructions
    • Equity
      • Usefulness
      • Constructive trusts
      • Resulting trusts
      • Equitable liens and charges
      • Estoppel
      • Undue influence & unconscionable dealing
    • Contract
      • Breach of contract
      • Is there a contract?
    • Caveats
      • Caveat needed?
      • Caveatable interest?
    • Life estates
    • Criminal law
      • Report an offence?
    • Civil debt and asset recovery
    • Consumer credit
      • Consumer credit protection
      • Unsuitable loans
      • Dispute resolution schemes
      • Banking codes
    • Family violence
      • Intervention Orders
      • Who is a family member?
      • Appropriate conditions
    • Family law
  • Substitute decision-making
    • Powers of Attorney
      • Choosing an attorney
      • Forms of PoA
      • Changing/revoking PoA
      • Capacity to make an EPoA
      • Abuse of EPoA (Financial)
    • Guardianship and Administration
      • VCAT’s role
      • Applying for orders
      • Who to appoint?
  • Sample Family Agreement

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