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Questions & Answers
Can shares (ASX) be purchased to negate Capital Gains Tax from the sale of a Investment Property?
I recently sold my house and made eg 100,000.
It had been teneted for the last 4 years.
I lived in it for 3 year before that.
I think i wouldnt have to pay CGT if i Reinvested it in another property.
But i was thinking of purchaseing shares with the 100,000.
Can i do this
No - there is no CGT rollover relief applicable to either of those arrangments. Anyway, why would you want to waste money on shares that will probably lose you money just to save some capital gains tax? You'll still have to pay CGT anyway, but after claiming the 50% discount and reducing the gain by claiming a portion of main residence exemption you'll probably only be paying tax on around $28,000 net capital gain.
If you're in the 30% tax bracket (depending on your level of income including the net capital gain), that's only $8,800 tax out of you making $100,000 profit. Or around $11,600 tax if you're in the 40% tax bracket. Not such a big deal - don't panic :)
See a good tax accountant who knows how to reduce your capital gain as much as possible to save you more money.
What would happen to Rio Tinto shares if it is taken over by BHP Billiton?
Say i have 20 ASX:RIO shares at $100, and the merger between BHP and RIO goes ahead? Is it a good time to sell before the supposed takeover, or after?
If I recall correctly, the BHP's offer is cash and stock so if the deal comes thru then you will get cash and BHP stock. The time to sell depends on your investment goals and situation, but generally you should just wait until the takeover, it may not happen in the near future though.
What manufacturers will run NASCAR in 100 years?
Given NASCAR still exists in 2109, what manufacturers and cars will run NASCAR?
The five cars IMO:
Makko RazorShield 7Z (Japan)
FozMok Zeal GTS (Japan)
Chuckie Norris Type S (American)
Google Dominator ASX (American)
Noxar RTK Type II (Italian)
Good question! Problem is, none of us will be around in 100 yrs. to see what still exists...LOL. It does give us something to think about.
*SHOQ*
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