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Noel Whittaker Money columnist November 5, 2025 — 5.01am

My husband and I have just sold a rental property we bought in 1999 and have never lived in. It provided about half of our regular income, with the rest coming from super and the occasional freelance job or art sale. We were, of course, expecting to pay a hefty capital gains tax on the sale. Unfortunately, we’ve been caught by an unexpected ATO rule. Even though we received the funds in August this year, the contract was signed in June – and the ATO deems that capital gains tax (CGT) is payable in the financial year in which the contract is signed.

This has created a double whammy for us. We’re unable to make a concessional tax contribution using the five-year carry-forward rule because we

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