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Hi
Thanks for your reply again, appreciate it. We have decided to stay at our current place of residence as our business is there and being the kind of business that it is we need the storage etc.
We have restructured all of our loans(mortgage, business and IP) have not settled yet though. All are cross collaterised with the same bank. I realise now that this may not be great after my sml (I mean small) insight into property investing.
If we sell our IP after completion and put that small profit into investing in positive cashflow properties what percentage of capital gains would we have to pay (house in hubbies name, land in trust)? Are you taxed any less for capital gains if you reinvest the profit into another IP? One year will be up (with regards to capital gains) in September.
We don't plan on rushing into anything with regards to another IP just yet but obviously with the IP about to be settled we need to plan ahead!
Talk soon
BillThanks so much for replying Richard.
Just to clarify a few things. My husband has a full time job and I have a part time job and we also run a business from home. Our business is in a joint trust, our PPOR is in both our names. The IP (house only ) is in the same trust as the business.
We are really keen to go down the positive gearing pathway, put wanting to come up with the best soloution to have enough funds to get us started.
Any suggestions?
Bill GrayThanks, will talk to our accountant!
