hi guys, [
]
this is a hard question for some. I have read that in america if an IP is bought and there is a CG made on it you can avoid CGT if you invest the CG in another property worth equal or more value.
Does anybody have any more information on this?
Like i have also read that this is shown in the 1041 Tax Revenue Act in USA!
Pls help me find out more about this law!Thanks Karan[
][]*****
Please reply to [email protected]
*****It is a “1031 Tax Deferred Exchange”.
Further information as follows:
http://www.irs.gov/businesses/small/industries/article/0,,id=98491,00.html
Interesting questions from a 15 year old.
— Michael
thankyou
*****
Please reply to [email protected]
*****Karan,
No rollover relief on investment properties in Australia. The only rollover relief is available to active assets of a business and it specifically excludes assets that have been used to produce rental income section 152-40(4)(e).
]
][
You must be logged in to reply to this topic. If you don't have an account, you can register here.
