Can the proceeds from one property sell (flat) be used to repay the home
loan of second property without attracting CG tax?
While capital gains on the
disposal of a second property can not be avoided altogether, there are strategies to reduce or defer the tax liability, including life insurance, the use of a trust or a corporation.
Best of all, anyone not using their second home all year can opt to rent it out for a source of supplemental income, a great way to boost revenue while enjoying the
perks of a second property.
«The
opening of our second property in Turkey marks a time of great growth and development for the JW Marriott brand,» said Mitzi Gaskins, vice president and global brand manager for JW Marriott Hotels & Resorts.
«Mackay continues to flourish as one of Australia's most lucrative resource regions, resulting in an ongoing demand for central, serviced apartments, so increasing our accommodation inventory with the
launch of a second property was therefore a natural progression.
It could have had no way of knowing what dealings there had been with the mortgage after it was registered, whether principal had been paid down, whether the
disposition of the second property had generated net proceeds, etc..
The other two were in Ocean Grove - the numbers for the first home didn't work and the
owners of the second property would not furnish recent rental income, they provided last year's information and not for every unit.
The Hearing Panel will consider Broker A's introduction of the property to Client B, the property reports prepared by Broker A, and the time between the impasse in negotiations on the first property and the
sale of the second property.