Thursday, January 11, 2018

Foreign buyers walking away from Australian property

The stamp duty isnt the issue, its the capital gains tax discount being removed that now puts Australia on the shit list for expats/foreigners.

If the long term capital gains of Australian property is 8% and the long term capital gains of USA equities is 8% it doesnt take a rocket scientist to understand that with the 50% capital gains discount being removed means that expats and foreigners are now paying $41,000 per $100,000 in capital gains taxes instead of $20,000 as they would in the past.....

Uhm pass, will happy direct funds to USA equities instead of Australian property until the Australian govt comes to its senses.

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