All Topics / The Treasure Chest / rolling over capital gains

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  • Profile photo of avidreaderavidreader
    Participant
    @avidreader
    Join Date: 2003
    Post Count: 4
    August 9, 2003 - 12:03 pm

    hi, i’m new to this awesome site. can anyone tell me whether it is possible to roll over the profit from the sale of a property to the purchase of another without paying tax. someone told me that it is possible to register as a developer and then your property/ies become ‘rolling stock’. too good to be true?

    Profile photo of MJKMJK
    Member
    @mjk
    Join Date: 2003
    Post Count: 157
    August 9, 2003 - 12:09 pm

    Thats a new one! Why dont you ask the ATO.
    ( Aust.Tax Office for the internationals )
    MJK

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950
    August 9, 2003 - 12:16 pm

    hi avid
    i,ve not heard of it either
    But in The US you can avoid capital Gains tax if you reinvest into another property. would be great here.
    westan

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    August 9, 2003 - 12:39 pm

    Can’t do that in Australia. You can only offset a capital gain against a loss.

    Terryw
    [email protected]

    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

    Profile photo of JetDollarsJetDollars
    Participant
    @jetdollars
    Join Date: 2003
    Post Count: 2,435
    August 9, 2003 - 12:49 pm

    Pretty good question, I never think of that before.

    Kind regards

    Chandara
    [Keep going, you’re nearly reach the end of financial freedom]

Viewing 5 posts - 1 through 5 (of 5 total)

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