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A subsection 45(2) election is a tax provision that allows a taxpayer to defer the recognition of a capital gain when they completely or partially convert their principal residence into an income-producing property, such as a rental. By filing this election, the taxpayer is deemed not to have made the change in use for tax purposes. Key features of the subsection 45(2) election include: - Continued Exemption: It allows the property to continue qualifying as the taxpayer’s principal residence for
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How did the capital gains tax discount and negative gearing supercharge house prices, and lock generations out of buying a house? Co-CEO Richard Denniss answers this question and more on the latest episode of 'What's the Point?' 🎧 Listen wherever you get your podcasts!
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Debt isn’t taxed and that makes it one of the most powerful tools in the game. So instead of selling the property and paying capital gains tax, they refinance it. They pull out equity tax-free and use it to buy more cash-flowing assets. It’s called velocity of money. And it’s how the same dollars get used over and over again to build real wealth. Follow for more wealth strategies the average investor never learns.
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