Rixter said:I dont think theres any room left on his back
Rix , given it's Christmas , I'm sure Pitt St can find room for one more
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Rixter said:I dont think theres any room left on his back
Ross Sondergeld said:Great Question... 1x$1m or 4x$250k ????????
For me... it's a simple answer. (But only 20% of us picked this option.)
Answer. I'd just do the $1m property and retain my PPOR exemption.
I make more money... because I make TAX FREE money.
It's a fast track approach and it works extemely well.
I call it the... PPOR home hopping technique. Just keep hopping and keep trading higher. (But make sure you still trade, flip and hold... other stuff.)
- Ross
skater said:Rixter, you will find that Ross is proposing using the $1m property as a PPOR & selling it CG free after a suitable period of gain, therefore TAX FREE.
Australia is similar. PPOR is tax free & CG on anything else is taxed at 50% after one year of ownership. If you sell before 12 months you get hit with the full 100% CG.kathryn d said:I asked my aussie husband but since we've been in Canada for the last 3 years, he wasn't sure of the answer . I thougt to ask here.
In Canada our PPOR is tax free. Any CG that we make on anything else is taxed at 75%. We used to have $100,000 tax free but they (gov) took that away a few years back.
What is Australia's?
Actually, in Australia CG on investment properties isn't taxed at 50%, its taxed at your top marginal tax rate.skater said:Australia is similar. PPOR is tax free & CG on anything else is taxed at 50% after one year of ownership. If you sell before 12 months you get hit with the full 100% CG.
Oops, that is what I meant to say. Sorry.Jamie said:Actually, in Australia CG on investment properties isn't taxed at 50%, its taxed at your top marginal tax rate.
If you sell within 12 months, you are taxed on the full amount of CG (at your top marginal rate). After 12 months, the CG is halved before being taxed.
Jamie.
No. But if you're on the top marginal rate it will work out that year.DCA said:I thought CG is taxed at flat 25% after 1 year
Patosan said:...
1. Ip @ 250k each are cheap nowadays ... could have low socio-economic type tenant trouble.
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3. 4 x all the paperwork and everything else.
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