All Topics / Help Needed! / First investment strategy and 50% stamp duty discount.

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  • Profile photo of usmicusmic
    Participant
    @usmic
    Join Date: 2012
    Post Count: 12
    November 16, 2014 - 10:20 pm

    Hi,
    I’m a young professional that is looking to enter the industry and currently doing Steve’s course. This is the plan for my first property, would love to know what people think:
    1. Purchase an established house that has potential for cosmetic renovations.
    2. Get 50% off stamp duty by living in property for 1 year.
    3. Do reno’s while I live in property (potentially rent out any spare rooms to help cover mortgage).
    4. After 1 year, sell property and get 50% off CGT.

    Any advice and comments would be a great help!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 16, 2014 - 10:43 pm

    If you live in the properyt from day 1 you may not need to pay CGT at all.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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