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Reno Toolbox + CGTkenton [24 Posts] Hi I have gone through the Renovation Toolbox course and Control Spreadsheet and can't seem to find mention of Capital Gains Tax. Shouldn't this be concidered when calculating Nett profit from a reno deal or am I missing something? I'm planning to plough all profit from one reno into the next deal. As far as I can see, I would need to take each sale as a CGT event and put aside the appropriate CGT amount. Thus my profit (as calculated in the reno tookit) is reduced by 40% (unless the property is held for more than 12 months of course). As this is such a significant hit to profit, I would have expected it to be in the deal evalution calculations. OR as I said, have I missed something? Thanks |
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