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Renovating structure

Dec 16, 2012

Reader question: I’m planning to move into the renovate to sell strategy, and was wondering what structure I should use to make the purchases (company, family, individual, etc.). Are there CGT savings that I can make by using a company structure, for example, as opposed to doing the reno and sell as an individual? I’m also aware that reno to sell is higher risk than buy and hold, so is there a structure I can use that provides me with more protection than buying as an individual?
Reader question: We purchased a house with our son 8 years ago. We rented it out for 4 years and then my son moved in but we (my husband and I) continued to receive rent from some of the bedrooms my son rented out to cover our mortgage. We have now sold our 50% share to our daughter-in-law so now my son and his wife own the house and are living in it. They plan to live there for quite a few years and renovate it. How does Capital Gains affect him once he sells it (maybe in 10 years)?
According to the Australian Taxataion Office (ATO), 465 individuals and companies were convicted for tax and superannuation criminal offences resulting in over $1.56 million in fines and penalties in the last quarter.

Claiming share losses

Dec 05, 2011

I am retired and lost $10,000 in trading last year. Can I claim this as a tax deduction?

Tags: CGTPersonal taxShares

I am now retired and have started trading FX from my home in Brisbane (Australia), I also own a small parcel of blue chip shares - would I be classified as a trader or an investor?
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