Did you know that Shorten proposes 75% of all your capital gains on property and shares to go in your tax return ?
Sales price $700,000
Purchase price $500,000
Buying and selling costs $20,000
Net Capital Gain $200,000
Income to go in your tax return $150,000
Shorten seems to think that only Finance Managers and Anaesthetists are the only ones buying rental properties. Definately not hairdressers and or nurses. What a joke.
Buy shares $100,000
Sell shares one year later $300,000
Capital gain $200,000
Capital gain 75% $150,000
Amount to go in your tax return due
to Shorten $150,000
The same consequences of lower house prices could happen etc.
Noel Whittaker , on 2/3/19 reported the attached story
regarding the effect of the capital gains changes.
Noel Whittaker Story 2/3/19