An interesting topic,
In the U.S. they have what is called the "1031 Tax deferred Exchange ". As far as I can see this lets a property investor sell a property and re-invest that money into a new property. (e.g. sell three houses to buy a full unit or apartment building etc)
I know Kiyosaki raves about this. My question is do we have such a benefit here in Australia or is this just a great reason to become a US citizen
Physically you would be no better off by reinvesting the same money into another property, just shifting your money. To me this is not at all cashing out. So my basic question is
IF NOT, WHY NOT.
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If everyone were young and rich we'd be in the wrong game
In the U.S. they have what is called the "1031 Tax deferred Exchange ". As far as I can see this lets a property investor sell a property and re-invest that money into a new property. (e.g. sell three houses to buy a full unit or apartment building etc)
I know Kiyosaki raves about this. My question is do we have such a benefit here in Australia or is this just a great reason to become a US citizen
Physically you would be no better off by reinvesting the same money into another property, just shifting your money. To me this is not at all cashing out. So my basic question is
IF NOT, WHY NOT.
________________
If everyone were young and rich we'd be in the wrong game