Tag: taxation
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Should I try to sell my home or keep it and rent it out?
Here’s a scenario: Let’s say you’re moving out of your current home. Maybe to downsize, maybe to someplace with better weather, whatever. Given that real estate seems like a pretty good inflation hedge, you might be reluctant to sell your soon-to-be former abode. Plus, according to a recent estimate, rents just hit a record high, ... -
‘Unprecedented growth in house prices’: OECD call to cap housing tax breaks benefiting the rich
Capping tax breaks for housing could help reduce house prices and ensure that property is not concentrated in the hands of older and wealthier Australians, according to a new report by the Organisation for Economic Co-operation and Development (OECD). Key points: The OECD suggests capping tax exemptions to ensure the “highest-value gains are taxed” The ... -
Selling a vacation home that’s gone up in value? A Section 1031 exchange is one way to avoid a tax hit
Say you own a highly-appreciated vacation home that you’re ready to unload for whatever reason. If you simply sell it, you could face a whopping big income tax bill. See my earlier column on that unfortunate outcome. Ugh. But if you’re still bullish on real estate and not a fan of paying taxes unnecessarily, you ...