CGT (Sisterly) Love: Two sisters moved from New South Wales to Victoria along with their husbands. They bought a property in joint names and lived in it together for a year. After renting it out for about 5 years, one couple moved back in and paid some rent to the other couple.

About a year thereon, they bought another property in joint names because that was the only way they could finance it, and this time the other couple occupied it as their main residence. After 3 years they transferred the properties to each other so that each one got 1 fully owned home. This is what we call a CGT Storm. We worked out the capital gains patiently and methodically and the tax bill wasn’t as huge as they expected. Win-win.