All Topics / Help Needed! / Tax/Accounting Question releasing equity

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of bullet46bullet46
    Participant
    @bullet46
    Join Date: 2011
    Post Count: 51

    Hello all,

    I have a question that boils down to tax implications and wanting an understanding before making a mistake.

    I am looking to release approximately $100,000 of usable equity out of one of my investment properties to use for another venture. If my circumstances change 12 months after releasing that equity and I am forced to sell the property, will I end up paying CGT on the 100k released equity plus any other profit made? I have a feeling the answer is going to be YES, but I am not 100% sure…

    Thanks in advance for any assistance provided.

    Regards,
    Jamie

    • This topic was modified 7 years, 1 month ago by Profile photo of bullet46 bullet46.
    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    No. It is just borrowed money.

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

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.