CGT on second home when a spouse has died .

In 1997 my wife and I bought a second home in joint names. My wife died in 2008 and I inherited her half of the property . I am selling to property . For cgt purposes is the property value my 50 per cent share of the 1997 purchase price plus the value of my wife’s 50 per cent assessed on her date of death in 2008. The property was bought for 45 k in 1997 and the total value of the property in 2008 when she died was 140 k . Is my baseline price therefore 50 percent of 45k plus 50 per cent of 140k I.e 22.5k plus 70k .. that is 92.5 k as the baseline before capital gain ?

Hi Peter,
That is correct.
Thank you.

Thank you for this. Just to clarify the property was purchased as Joint tenants and not as tenants in common. Does the same apply in both instances I.e. if a joint tenancy and not tenet to in common can I still claim my wife’s half at the date she died for capital gains purposes

Hi,
If you own a property as joint tenants, the surviving owner automatically inherits the deceased’s share,  the calculation applies per the previous reply.
Thank you.