2 couples are buying land and bulding 2 new homes to on sell, probaly buld one in each financial year what is the best way to set this up for tax implications?.
Hi,
Your best option is to speak to an accountant to get your structure set up correctly.
But it would seem best to build one now, sell it in 12 months time to avoid 50% Capital Gains Tax. Then use the profits from this to build your next then sell that after 12 months also for the same reason.
Me personally – I wouldn’t want to sell – but your choice.
Kind Regards,
Geo.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Consider occupying them to save the CGT. if you don’t already own a home that is.
As Geo said, some moeny spent on an hour with an accountant might save you a packet.
Cheers and good luck,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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