All Topics / General Property / CGT

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  • Profile photo of shanebalshanebal
    Member
    @shanebal
    Join Date: 2003
    Post Count: 16
    October 16, 2003 - 1:19 am

    I have a question about CG tax.

    If you have an IP and get a revaluation and draw on the increased equity for further investment does this trigger a CG event?

    Thanks,

    Shane

    Profile photo of BillfromozBillfromoz
    Participant
    @billfromoz
    Join Date: 2003
    Post Count: 381
    October 16, 2003 - 1:54 am

    G’day Shane…

    CG only applies when you sell your IP.
    To refinance and utilise further funds for investment is a good strategy provided you do your summs at 2% above current interest rates.

    That will generally keep you out of trouble.
    Just make sure you can service the borrowings.

    Cheers

    Bill O’Mara
    Real Estate,Mortgages,Share Market Strategies.
    [email protected]

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    October 16, 2003 - 2:32 am

    Or you can fix the rates.

    6.29% for 5 years is achievable these days.

    Cheers,

    Simon Macks
    Mortgage Broker
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Viewing 3 posts - 1 through 3 (of 3 total)

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