All Topics / Help Needed! / Tax/Accounting Question releasing equity
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 8 years, 4 months ago by bullet46.
No. It is just borrowed money.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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