Some questions for the accountants / tax members on the forum: Have a situation whereby I currently own an IP with my wife as Joint Tenants in equal shares. Have owned the property since 2002 and have to date declared rent income and claimed all IP expenses in tax returns on a 50/50 basis. On 28/2/2008, we entered into a standard RE contract for me to purchase the remaining 50% share from my wife. "Settlement" for the sale / purchase is due to occur on 28/7/2008. Given the above situation and dates, I have a couple of questions: 1) A CGT event has occurred for my wife and is effective from the date that the contract has been signed ie 28/2/2008? So assume that the Capital Gain will be shown in my wifes 2008 tax return? 2) Who is entitled to declare income and claim the IP expenses to 30/6/2008? Does my wife continue to claim expenses up to the date of settlement or am I entitled to claim 100% of expenses from the date of the sale contract? Any guidance would be appreciated.