Budget CGT change could be extremely expensive for expat and offshore investors: Michael Matusik
Wayne Maxwell Swan, will you just rack off!
Just take a look at what he has buried deep in the 2012 Australian federal budget:
“The government will remove the 50% capital gains tax (
This statement will have great impact on the amount of property bought (and held) by Australian expatriates and other tax non- residents.
The 50%
We join those few yet to pick up on this change to inform any expatriates and offshore investors with investment properties here in Australia that they need to obtain a market valuation as soon as possible. Failure to do so could be extremely expensive.
And thanks for the heads up, Wayne – we got heaps of notice on this one. The practicality is that many expatriates and offshore investors may (will more likely) not hear about this change until too late.
You guys look like you will sacrifice almost anything to achieve a token $1.5 billion surplus in 2012-13.
The latest research from Colliers found that foreign capital investment made up 60% of all investments in Australia's commercial property markets in the first quarter of this year. There was about $2.2 billion worth of foreign investment in Australian non-residential property in the first quarter, well up from $341 million in the same quarter last year.
When it comes to residential property across
Hmmm,
Keep up the good work.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called Think Matusik. Think Matusik brings together expert opinion and select property opportunities.