CGT & ROLL-OVER RELIEF

Viewing 4 posts - 1 through 4 (of 4 total)

wilsonkay
Member
@wilsonkay
Join Date: 2002
Post Count: 52
October 15, 2004 - 4:40 am
Here is a question for all of the accountants out there.
Is there any roll-over relief available for Capital Gains Tax on Investment Property?
I am looking to make a considerable gain, and would like to know if I could invest the money in some other way to get out of paying all of the CGT.
I have had a good look on the ATO’s web site. There seems to be roll-over relief for everything else (shares, businesses etc) however doesn’t seem to be for investment property.
You’re help would be greatly appreciated.
Regards & Thanks,
Tim Wilson.
Monopoly
Member
@monopoly
Join Date: 2004
Post Count: 1,612
October 15, 2004 - 4:51 am
That’s because there isn’t one!!! [glum2]
Sorry, but if I could’ve got out of it as simply as that, trust me, I would have!!! Like all investors, you will just have to [grin] and bear it, as painful as it is; of course make sure you do everything you can to try and reduce the amount of CGT, but ultimately, big or small….you will have to cough up!!!
Jo
AUSPROP
Participant
@ausprop
Join Date: 2003
Post Count: 953
October 15, 2004 - 9:39 am
paying tax is a horrible reality, but it’s better than carrying forward losses!

Extensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
wilsonkay
Member
@wilsonkay
Join Date: 2002
Post Count: 52
October 20, 2004 - 12:33 am
Hi Guys & Gals,
Thanks for your replies. I don’t mind paying tax because it means I am making money, however obviously I do like to minimise this wherever possible.
oh well…so be it!
Regards,
Tim Wilson.