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?
CashpoorANUBISParticipant@anubisJoin Date: 2003Post Count: 559
Do it in a company structure and pay 30%
Thank you for your reply.Has anyone else got any other ideas?
CashpoorlifeXMember@lifexJoin Date: 2004Post 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
Thank you for your reply.
CashpoorTerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
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.
Discover Home Loans