Here is one of the best financial strategies I have seen - make your next purchase of an investment property in a place you would keenly like to ‘Retire’ to. It gives you:
time to see if you like that area
time to try staying in it
time to make your desired repairs and changes to the property whilst in a tax efficient environment (expenses on an investment property are deductible)
also, it suspends for a very long time any triggering of CGT. If you keep the place for so long that it is bequeathed in your will, your beneficiaries only pay CGT if they sell it. If they are happy to retire into it, it could be 50yrs+ until anyone pays CGT for the initial time you had it rented out. If you have no interest in buying a property, I’m not suggesting you change your mind, but for those who do plan a purchase, it’s something to keep in mind.
A Super Boss May Be Coming Your Way
May 22, 2017
Who is left that thinks and acts for long term? Politicians won’t invest in greatly needed infrastructure because it is probably going to their oppone...
Is the concept of ‘Long Term Thinking’ dead?.....(read article)