Wez2014 replied to the topic Registering for GST or pay 50% CGT in the forum Help Needed! 8 years, 9 months ago
Ok thanks, could you please explain the 5 yrs rule to me? As people have said hang on to the unit/s for 5 years…
Thanks :)
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Wez2014 replied to the topic Registering for GST or pay 50% CGT in the forum Help Needed! 8 years, 9 months ago
So would the best way to go be register for GST in 5 years or now??
Then hold onto the units for 5 years and then sell using the margin scheme.How do you know if your allowed to use the margin scheme or not?
So what do builders who develop normally do when they buy a block of land and subdivide then build a few houses and sell some on seperate…[Read more]
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Wez2014 started the topic Registering for GST or pay 50% CGT in the forum Help Needed! 8 years, 9 months ago
I am renting and 2 units next to each other on their own titles that were built last year.
I also own an older house which i rent out.1) Do i need to Register for gst to sell 1 house every couple of years?
2) Or just hang onto 1 for 12 months and pay the 50 percent CGT?
Then do the same the next year?
Basically im asking are you worse off to…[Read more]
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Wez2014 replied to the topic Principal place of residence in the forum Legal & Accounting 8 years, 9 months ago
How are they to know if it is intentional to make $$?
Seems to be a grey area to me?
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Wez2014 started the topic Principal place of residence in the forum Legal & Accounting 8 years, 9 months ago
A few years ago I lived in a house for 12 months then sold it CGT free as it was my main principal place of residence.
I have done this twice now.
Is there a limit on the amount of times i can do this CGT free?
As in will the tax office see this as an offiside business if i do it every couple of years? Or am i pretty safe to go again?Thanks :)
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