I wonder if the intention is genuine or opportunistic? Would this homeowner be subject to CGT?
48 Hour home owners turn down $30K profit
Will there be more of this activity happening in the next few months - home owners buying property - adding value then re listing for sale quick smart? If they just do it once and the home was for the family to move into - but they change their minds can it be deemed 'trading'?
That NZH news item says the sales agent whom sold the property, told the new owners properties were gaining in value by $1000 a day. The new owner lists again in 48 hours - less than 3 weeks on the market gets an offer that would give $30K in profit ($1428 per day) - but turns it down.
Of course the sales agent is the same - (double dipping springs to mind). Interesting times ahead for sure.
cheers,
donna
48 Hour home owners turn down $30K profit
Will there be more of this activity happening in the next few months - home owners buying property - adding value then re listing for sale quick smart? If they just do it once and the home was for the family to move into - but they change their minds can it be deemed 'trading'?
That NZH news item says the sales agent whom sold the property, told the new owners properties were gaining in value by $1000 a day. The new owner lists again in 48 hours - less than 3 weeks on the market gets an offer that would give $30K in profit ($1428 per day) - but turns it down.
Of course the sales agent is the same - (double dipping springs to mind). Interesting times ahead for sure.
cheers,
donna
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