Guys,
I can’t remember… if a company owns a property for over a year and then sells, does it qualify for the CGT benifit? Does it pay 15% tax or 30%?? [withstupid]
Cabo Wabo
nope
that’s why it is not good to use a company to purchase property and other appreciating assets.
Terryw
Discover Home Loans
Parramatta
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Cabo
On another note it is the date of Contract that is considered for the reduction in CGT (where held personally) which may not always be the date of ownership.
If you buy in a Super Fund and hold the property for 1 year and 1 day between contract dates the CGT is reduced to 10%.
Richard Taylor
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