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  • Profile photo of Adz123Adz123
    Participant
    @adz123
    Join Date: 2011
    Post Count: 3
    April 6, 2011 - 8:51 am

    Appreciate the responses, and i will be following this up with my accountant and making sure that he is aware of my intentions so that the right structure if need be is implemented.

    With regards to my original question and the 50% CGT discount – does this discount mean that $50k is NOT taxed and can go straight into my pocket?

    Profile photo of Adz123Adz123
    Participant
    @adz123
    Join Date: 2011
    Post Count: 3
    April 5, 2011 - 12:26 pm

    Many thanks for you response – just to clarify does that mean:

    1. the full profit (ie: $100k) is taxed at my marginal rate on top of my p/a income, or
    2. (P/A income + $50k @ Marginal Rate) + 50% on $50k

    I will be seeing my accountant about these details but want to draw up my business plan with the number to make sure I’m making best use of his time.

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