I'll use an example here.
Jerry, is living off equity to fund his investments and lifestyle on a negatively geared property, he is not taxed.
If Jerry's portfolio was cashflow positive and was living off equity, does he pay tax on his positive earnings?
Also, in either situation, what will happen with new, and recent depreciation schedules in the instance of LOE? will they become useless as soon as Jerry stops working and lives off equity?
Thank you.
Jerry, is living off equity to fund his investments and lifestyle on a negatively geared property, he is not taxed.
If Jerry's portfolio was cashflow positive and was living off equity, does he pay tax on his positive earnings?
Also, in either situation, what will happen with new, and recent depreciation schedules in the instance of LOE? will they become useless as soon as Jerry stops working and lives off equity?
Thank you.