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All Topics / Help Needed! / First investment strategy and 50% stamp duty discount.
Hi,
I’m a young professional that is looking to enter the industry and currently doing Steve’s course. This is the plan for my first property, would love to know what people think:
1. Purchase an established house that has potential for cosmetic renovations.
2. Get 50% off stamp duty by living in property for 1 year.
3. Do reno’s while I live in property (potentially rent out any spare rooms to help cover mortgage).
4. After 1 year, sell property and get 50% off CGT.
Any advice and comments would be a great help!
If you live in the properyt from day 1 you may not need to pay CGT at all.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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