New CGT Interpretive Decision… Advice needed

Viewing 8 posts - 21 through 28 (of 28 total)

« 1 2

Paul Dobson
Participant
@pauldobson
Join Date: 2003
Post Count: 1,196
March 29, 2004 - 2:24 pm
Hi Julia
I just wanted to second what Felicity said. Great post! Thanks for your help.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone Me
An alternative way to finance your home.
FFComm
Member
@ffcomm
Join Date: 2004
Post Count: 627
March 31, 2004 - 12:39 pm
Wraps is simply trading stock – just this time your stock is property, rathyer than another item.
Steve is 100% correct, so 0% CGT.
Rgds.
Lucifer_au
Julia
Member
@julia
Join Date: 2004
Post Count: 217
April 1, 2004 - 2:02 pm
Steve,
No CGT means no CGT concessions so 100% of profit is taxable on sale but not until settlement.
Julia
WallFlower
Member
@wallflower
Join Date: 2004
Post Count: 205
April 4, 2004 - 5:16 am
Julia, obviously you have nothing to sell.
If you do I’d like to know about it….[whistle]
MichaelGruber
Member
@michaelgruber
Join Date: 2002
Post Count: 30
April 4, 2004 - 9:46 pm
Hi,
Some great info, however in the meantime I am arranging for a speaker from the ATO to come along to the Vendor Finance meetings to speak on this issue too.
Regards
Michael Gruber
President
Vendor Finance Association
Julia
Member
@julia
Join Date: 2004
Post Count: 217
April 5, 2004 - 5:31 am
Alright Wallflower I’ll bite. Just where has the house gone, that Steve says is trading stock, if there is nothing left to sell?
Julia
WallFlower
Member
@wallflower
Join Date: 2004
Post Count: 205
April 5, 2004 - 6:41 am
Hi Julia, my comments were a round about way of saying thanks for the explanation, that was not forth coming from other sources.[blush2]
WF
Julia
Member
@julia
Join Date: 2004
Post Count: 217
April 7, 2004 - 1:18 am
Wallflower,
Oh now I understand. Thanks
Julia