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There is a trap, maybe it was changed in the meantime...

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lu888

2,858 Posts.

01/10/20

23:03

Post #: 47792116
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Originally posted by boomeronrations: ↑

Absolutely, and I would have bought it purely as an investment.
Very carefully documenting the investment case.
The important thing here is "intent". But that , of course, is intent at the time of purchase. If I change intent a year later, no foul.
In truth , If it were me in BG's circumstances, subject to cgt and other taxation considerations, I would probably have flogged the investment properties and bought in the place I wished to live long term. But we all have different needs and desires.
All good fun.

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There is a trap, maybe it was changed in the meantime but...
http://www.relianceauditing.com.au/in-specie-payments-a-tax-trap/
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