Morning my Learned Friends,
Quick Scenario of 2 Properties in my Family Trust:
Single Dwelling Development (Dev1)
July 2014 - Purchased Land
December 2014 - Completed Dwelling
January 2015 - Sold
Capital Gain of $100K
Multiple Dwelling (Duplex) Development (Dev2)
July 2014 - Purchased Land
Not yet commenced contruction
Loan amount $200k
Land purchase price $360k
There are also another 3 blocks under finance, with 2 under construction...
My question is, can I use the CG from Dev1 to pay down the loan on Dev2?
What other options do I have?
Quick Scenario of 2 Properties in my Family Trust:
Single Dwelling Development (Dev1)
July 2014 - Purchased Land
December 2014 - Completed Dwelling
January 2015 - Sold
Capital Gain of $100K
Multiple Dwelling (Duplex) Development (Dev2)
July 2014 - Purchased Land
Not yet commenced contruction
Loan amount $200k
Land purchase price $360k
There are also another 3 blocks under finance, with 2 under construction...
My question is, can I use the CG from Dev1 to pay down the loan on Dev2?
What other options do I have?