PropertyInvesting.com | reece | Activity https://www.propertyinvesting.com/members/johnreece/activity/ Activity feed for reece. Wed, 15 Apr 2026 11:30:20 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 4e3687b654c7b1a4a24b53c70bfed8cf reece replied to the topic Capital Gains tax on PPOR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5041186-capital-gains-tax-on-ppor-2/#post-5041745 Thu, 30 Nov 2017 06:23:46 +0000 ” Where you are buying with the intention of selling for a profit this will be on revenue account and it will be taxed as income…”
Can this not be said of every property? Surely, every property is bought for the intention of a sale at some time in the future

I have been looking through the tax rules and it seems that, as long as I live in…[Read more]

]]> 6680578cc320e97dcee82fa7e6394dbc reece replied to the topic Capital Gains tax on PPOR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5041186-capital-gains-tax-on-ppor-2/#post-5041745 Thu, 30 Nov 2017 06:23:46 +0000 ” Where you are buying with the intention of selling for a profit this will be on revenue account and it will be taxed as income…”
Can this not be said of every property? Surely, every property is bought for the intention of a sale at some time in the future

I have been looking through the tax rules and it seems that, as long as I live in a…[Read more]

]]> 755dea4b68d78c98cc4a10906fd10abd reece replied to the topic Capital Gains tax on PPOR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5041186-capital-gains-tax-on-ppor-2/#post-5041745 Thu, 30 Nov 2017 06:23:46 +0000 ” Where you are buying with the intention of selling for a profit this will be on revenue account and it will be taxed as income…”
Can this not be said of every property? Surely, every property is bought for the intention of a sale at some time in the future

I have been looking through the tax rules and it seems that, as long as I live in a…[Read more]

]]> 673008a435447f6284743760591561d7 reece replied to the topic Capital Gains tax on PPOR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5041186-capital-gains-tax-on-ppor-2/#post-5041211 Mon, 06 Nov 2017 06:54:44 +0000 Hi Terryw,

So are there no real strict time/holding rules about selling a PPOR?
Can I buy and sell PPORs as many times as I like without having to worry about any time/holding issues?

]]> 07eebee887528c1f249405093360d5b0 reece started the topic Capital Gains tax on PPOR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5041186-capital-gains-tax-on-ppor-2/ Sat, 04 Nov 2017 09:15:21 +0000 I have a newbie question. I have a property that I have bought as a PPOR and have received an excellent offer for it. I have been offered 35% more than I paid for it in July this year 2017.
I have been told that I need to hold the property for at least 12 months from purchase date to have zero capital gains tax.
I have looked on the ATO site and…[Read more]

]]> 954107abc71ed44d20e71339790d8d82 reece replied to the topic A question regarding some inherited properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5025980-a-question-regarding-some-inherited-properties/#post-5026112 Mon, 23 May 2016 08:47:23 +0000 Thanks again for your advice Terry.

Can you please advise why I have been told to get a valuation for each of the properties. I can understand why I need one for the PPOR but not sure why I need one for the other two since the initial purchase price is the important number

]]> 971cfe7b1dd6808c4a2885aca4d3736e reece replied to the topic A question regarding some inherited properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5025980-a-question-regarding-some-inherited-properties/#post-5025992 Fri, 20 May 2016 12:13:23 +0000 Thanks Terry for your answer.

As I am a little bit dumb, can you clarify that;

2. “Cost base will be his cost base” means that I will be taxed on the difference between my fathers purchase price and the current sale value (if, or when, I sell it).

So in summary, the transfer of the property to me does NOT reset the Capital Gain clock to zero ?

]]> dc1ccf4f46f510b55437db0e40787e02 reece started the topic A question regarding some inherited properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5025980-a-question-regarding-some-inherited-properties/ Thu, 19 May 2016 23:49:24 +0000 I have a question regarding some inherited properties. My father has recently left me (his only son) three properties in his will.

1. His home (PPOR) bought for $800k and now worth $950k
2. An investment property bought for $400k and now worth $650k
3. An investment property bought for $750k and now worth only $500k (he bought a house in…[Read more]

]]> 014c17d9147572015c13b05a60c280b4 reece started the topic When is a Capital Gain assessed by the ATO? in the forum Help Needed! https://www.propertyinvesting.com/topic/5025902-when-is-a-capital-gain-assessed-by-the-ato/ Wed, 18 May 2016 05:21:33 +0000 Hi guys, A simple question…
I have just sold an investment property that I have had for 5 years.
The contract is dated 15/05/2016, with it going unconditional on the 29/05/2016 and a settlement date on 2/07/2016.

For tax purposes, is the capital gain assessed at the contract date or the settlement date?
The contract date means that I have to…[Read more]

]]> 2e865259113e49f20769f687a3fce9ea reece became a registered member https://www.propertyinvesting.com/activity/p/314151/ Mon, 04 May 2015 00:39:41 +0000