Hi All..
I am very new on learning IP, I need a tax consultant to help me on doing calculation and suggesting good strategy on saving/maximizing tax return.
Do you have recommendation a good tax consultant who willing to explain patiently
And I have question… say if I buy property for primary residence for 2 years and within that period the value of property have increase say 100k, then after that I switch it become IP, and after several years sell it, does the first 100k gain is included in capital gain tax? (I am wondering because that gain is within non IP period)
any suggestion will be highly appreciated..
Thank you,
FerryHi Ferry
If you think that investing in IP = saving tax… then you have to think twice about your philosophy
Tax advantage is only the bonus imho.ferry77 wrote:And I have question… say if I buy property for primary residence for 2 years and within that period the value of property have increase say 100k, then after that I switch it become IP, and after several years sell it, does the first 100k gain is included in capital gain tax? (I am wondering because that gain is within non IP period)To answer your question it basically works proportionately.
But you should invest in something because it is a good investment – not because of the tax benefits. Try to think as the tax benefits as the cherry on top.
Good luck
Grow SMSF | Grow SMSF
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