Defer CGT with a Green investment
- Thread starter Crystal
- Start date
Hiya Xtal
Id have to agree with Dunc, though the CGT exemption may be obtained differently, maybe ...................
CGT is simply an add on to your marginal tax rate, so any deductible expense would be ok, including investing in a toxic waste dump if it were to be a profit making thing one day.
Now the deferral of "tax" by the company he is buying into, on their profits is something else again I think.
ta
rolf
Id have to agree with Dunc, though the CGT exemption may be obtained differently, maybe ...................
CGT is simply an add on to your marginal tax rate, so any deductible expense would be ok, including investing in a toxic waste dump if it were to be a profit making thing one day.
Now the deferral of "tax" by the company he is buying into, on their profits is something else again I think.
ta
rolf
It would probably be a deduction for one of the agricultural investment schemes. Not a deduction specifically for Capital Gains Tax, just a deduction for tax in general.
I've been stung extremely badly by these- before the regulation regimen was introduced.
Peter Spann is advocating some of these now, so perhaps they're not all bad.
But then, NEVER invest in something just because of tax deductions. Four agri schemes I "invested" in went bust- only one (minor) one is still in operation, and I would be extremely surprised if that returns any profit at all. The other schemes not only went bust, they also nearly cost me everything.
I've been stung extremely badly by these- before the regulation regimen was introduced.
Peter Spann is advocating some of these now, so perhaps they're not all bad.
But then, NEVER invest in something just because of tax deductions. Four agri schemes I "invested" in went bust- only one (minor) one is still in operation, and I would be extremely surprised if that returns any profit at all. The other schemes not only went bust, they also nearly cost me everything.
Investment suggestions
G'Day all,
I have an update from friend's father.
The "green" companies suggested as 10 year CGT deferral investments are....
Great Southern Union Pty Ltd
Gunns Plantation Ltd
Timber Corp Agribusiness Investments (an S&P/ASX 200 listed company)
Any ideas or suggestions?
Thanks,
Crystal
G'Day all,
I have an update from friend's father.
The "green" companies suggested as 10 year CGT deferral investments are....
Great Southern Union Pty Ltd
Gunns Plantation Ltd
Timber Corp Agribusiness Investments (an S&P/ASX 200 listed company)
Any ideas or suggestions?
Thanks,
Crystal
I agree with Geoff's 2 points above.geoffw said:
I have looked closely at (an can give advice on ) a few of the more prominant "agri schemes", run by Macquarie and Timbercorp. They seem to stack up okay, but I am still not that keen on promoting them. I think experiences like geoff's makes me wary, although regulation today is better.
GarryK
Hi Crystal,
I am due for capital Gains Tax this financial year. Last June, I made investment in Great Southern to reduce the capital gains tax.
You can buy in lots, each lot costs $3,000 + GST. The full $3,300 is tax deductible.
You can also the $3,000 over twelve equal payments interest free..
It normally takes 10 years for the trees to mature. Once matured it is cut and sold as woodchip.
This project has been going for 10 years, the first return to investors was made this year.
The first time I invested in Great Southern plantation was 8 years ago. So I was comfortable to do it again.
Please do not take my comments as recommendation, it is just to let you know how this type of investment can reduce the Capital Gains tax.
Cheers,
Roger.
I am due for capital Gains Tax this financial year. Last June, I made investment in Great Southern to reduce the capital gains tax.
You can buy in lots, each lot costs $3,000 + GST. The full $3,300 is tax deductible.
You can also the $3,000 over twelve equal payments interest free..
It normally takes 10 years for the trees to mature. Once matured it is cut and sold as woodchip.
This project has been going for 10 years, the first return to investors was made this year.
The first time I invested in Great Southern plantation was 8 years ago. So I was comfortable to do it again.
Please do not take my comments as recommendation, it is just to let you know how this type of investment can reduce the Capital Gains tax.
Cheers,
Roger.