Hi to everyone.
Me and my wife just need your opinion on our plans.[
]We bought a unit (owner occupied) back in 1999 with the ffg details:
Purchase price (1999) : 250K
Deposit : 50K
Loan Amount : 200KOur current unit details are as follows :
Current Price (Est.) : 350K
Current O/S Amount : 90K
Current Equity (Est.) : 260KMe and my wife are planning to buy a house (around 500K-600K) very soon.
We don’t want to sell our unit because we want it as our ‘investment property’
(plus we want to avoid losing money on agent’s commission fees).Is retaining the unit as an investment a smart move? I am not too sure about the CGT implications if we decide to sell the unit in the future as it used to be owner occupied.
Or is it much better to sell the unit first and then buy a house and then later on buy an investment property ?
Any suggestions will be much appreciated.[
]PS – we are both on the top tax bracket.
If you can afford to keep it then do. But, go get some advice – what about a self managed super fund, and that’s only taxable at 15%…..but you could use it to leverage into a few more properties, with tax advantages attached to all of them!!!!!!![^]
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