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  • Profile photo of cashpoorcashpoor
    Participant
    @cashpoor
    Join Date: 2004
    Post Count: 22

    Hi all,
    If I buy a block on 3 titles, split it up & sell the 3 blocks in under 12 months.How do I get around paying 50% capital gains tax?
    Regards
    Cashpoor

    Profile photo of ANUBISANUBIS
    Participant
    @anubis
    Join Date: 2003
    Post Count: 559

    Do it in a company structure and pay 30%

    Profile photo of cashpoorcashpoor
    Participant
    @cashpoor
    Join Date: 2004
    Post Count: 22

    Hi ANUBIS,
    Thank you for your reply.Has anyone else got any other ideas?
    Regards
    Cashpoor

    Profile photo of lifeXlifeX
    Member
    @lifex
    Join Date: 2004
    Post Count: 651

    Stick it in a trust, and distribute the capital gains component to all your close relatives that are on a lower tax bracket than you. (Slip them a few hundred bucks, they’ll love you).

    Or…. sell and make a giant loss in any of your other investing activities to offset gain.

    If you are actually living on the land (caravan?) claim it as your PPoR (be very careful that you fall within the ATO requirements for this)

    FLY TO MEXICO AND HIDE ON THE BEACH SENORE’


    Live, Learn and Grow

    Lifexperience

    Profile photo of cashpoorcashpoor
    Participant
    @cashpoor
    Join Date: 2004
    Post Count: 22

    Hi lifeX,
    Thank you for your reply.
    Regards
    Cashpoor

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Yes use a trust at least. You will then be able to distribute to a company as a last resort and therefore should pay no more than 30% tax. Better spend some money on some good advice as you could save many thousands.

    Terryw
    Discover Home Loans
    Mortgage Broker
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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