Capital gains tax is one tax that constant has property investors wondering if they are taking the right steps when renting out their house. Many home owners who have built equity in their homes decide that renting it out and buying a better, often larger property for them to live in is the answer to their investment dreams. But turning your home into a rental property does come with some drawbacks and in the end many people find it better to sell the home and reorganise their finances.
There are some basic rules to capital gains, but there are also exceptions to the rule.
Because I am not qualified to give advice here I would like to give you this link to The Quinn Group where you can make an online enquiry: www.quinns.com.au.
I would like to mention here that I am in no way associated with this Group but having read an article in the April 2010 issue of ‘Your Investment Property’ on “How to avoid capital gains tax” I thought the link could be helpful to those wanting this specialist advice.