Capital Gains Tax - Australia

[Don and Liz]

cut and paste Voila

but getting back on topic how is tax "optional".

[Don and Liz]

Took the bait. Thought it was a genuine thread. Sorry guys it has been a long day.

[powerbroker50]

Dean

There is a huge difference between 10% mediun growth on paper and telling people at a seminar that they will make 10% capital growth in 3 months. I advise people to look at long term investing. What you do is encourage people to buy for short term gains that may not be there. The market has infact slowed down. But I suppose it helps sell tickets.

[orbital]

Hot Tip!!

Its often a wise course of action not to take advice on evading tax from a convicted fraudster

[powerbroker50]

Who is that?

[Dean@Massiveaction]

The market has in fact slowed down.

True but Oz is still rocking.
CAPITAL GROWTH IN THE 3 MONTHS TO MARCH 1 2008
Canberra 5.52%
Adelaide 6.22%
Darwin 6.67%
Brisbane 7.47%

[Julian]

The trouble with capital gain information is that it's historical. One doesn't drive one's car forward by looking through the rear vision mirror.
Julian

[powerbroker50]

The problem with capital gains information

Is that in a weekly or even a quartly figure it is not acurate. These figures are based on Mediun prices so they can be effected by what is selling during the period. I have seem suburbs where one quarter a lot of properties sell for $600,000 and the next quarter a lot sell in the $400,000. When you are looking at thoses ires it would show a fall in prices or an increase if it was the other way around. However it does not mean that he individual prices have either decreased or increased.

Frankly as an educator Dean should know better than to quote short term capital growth figures. Do not get me wrong the Melbourne market is great and there is no doubt that the market has had great growth in the last 12 months. I also think the next few years will also be very good because rental demand is so high. All I am saying is that Mediun price figures can be dececeptive.

[Perry]

Why not?

Do you not pay tax on other profits of business?

To call CGT a profit is quite a stretch.

Don't sell would be one solution.

Indeed.

Maybe this thread should be moved to the Aussie section anyway?

Done.

[amartin]

its not just in Australia but in US also. Congressional Republicans have been found to have gotten a report by the Congressional Research Service hidden as it opposes main Republican philosophical tenets. The report found that decreasing top tax rates and capital gains taxes do not fuel economic development as much as income inequality.

[bruynjustin]

CGT operates by having net gains treated as taxable income in the tax year. If an asset is held for at least 1 year then any gain is first discounted by 50% for individual taxpayers, or by 33.3% for superannuation funds. Net losses in a tax year may be carried forward, but not offset against income.