Why is it that most people avoid Capital Gains Tax (CGT) like the plague?
Well, it’s really all because of perspective.
Capital Gains Tax is a concept people tend to have a lot of fear around because they want to avoid tax altogether when in fact, it’s actually just a concept of business. If you sell a property you have to pay tax.
Today, we dive deep into the topic of CGT from an angle that most people wouldn’t take, that is, the belief that it shouldn’t scare you to think about it at all! We share how you can think about it strategically and how the benefits of your strategy actually outweigh the cons.
We also tackle where CGT is and isn’t applicable…
What Capital Gains Tax really is…
The benefits of holding property for 5 years versus selling it right away…
And heaps more!
See you on the inside!
In this episode, we cover:
- Why is this discussion on CGT important? [03:14]
- The belief most people have about selling property and CGT [4:04]
- What is Capital Gains Tax? [07:44]
- When and where is CGT applicable (and not applicable)? [11:32]
- About the 50% Capital Gains discount… [13:00]
- Weigh the pros and cons of your strategy to minimise fear of CGT [19:13]
- A look at the benefits of holding property for 5 years versus selling (and getting CGT) [19:44]
- This is what investing is really all about [31:45]
- Applying a time horizon and adding other factors changes the strategy [34:40]
- Take control of your strategies to get more of what you want [35:45]
- How much would you pay to never work a day in your life? [38:14]
Connect with Us:
- The Investor Lab Membership (https://theinvestorlab.com.au/jointhecommunity)
- Dashdot Buyers Agents Website (https://www.dashdot.com/au/)
- Limitless: The Renegade’s Guide to Building Wealth Through Property – Goose McGrath (https://www.renegadespropertybook.com)
- Ready to work with us directly? (https://dashdot.as.me/discoverycall)
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