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If i sold an investment property at profit will taking on a new investment property loan in the same financial year help minimise my cgt?

5 years ago

Responses

Hi Linda

Congratulations on selling your investment property.

In relation to purchasing a new investment property and how it might impact your capital gain tax then I would suggest you speak to your accountant and or financial adviser, as they will be in a better position to provide a more detailed and appropriate answer.

Best wishes

Hi Linda,
I have to agree with Paul.
You should speak to your accountant before buying the next propert. Simply buying another investment property will not necessarily reduce your cgt. Your accontant may have other loses such as depreciation, selling or borrowing costs that they may be able to utilse. Also you haven't mentioned whose name the property is owned in,there may be some other oportunies to reduce your cgt as well.
Good luck
,

Hi Linda,
Awesome news about selling your investment property.
I would have to also agree with Albert & Paul the best person to answer the CGT implications is your accountant.

Hi Linda G, this is really a question for your Accountant but my understanding is no. Cheers, Rob

Very unlikely. If you could, that would encourage rampant property trading and a property bubble.

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