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Lilith said:However, when you sell a property, you are at a big disadvantage compared to the locals. US tax law allows one to sell one's main residence (defined as occupied by owner in the 2 out of the last 5 years ) and keep the initial 250,000 capital gain entirely (500,000 for a couple). As you can imagine, lots of owners/investors are quite busy switching their main residence every couple of years.
It's a US law. There isn't a similar one in Australia.Henry said:What about the tax law robert kiyosaki quote's? the one that allows you to defer paying tax if you sell your property and then roll the money into a more expensive one. do you know if this is still an option? and while we're on the subject, does anyone know if there is any sort of tax dodge like this in aus?