Manage episode 274745232 series 2445782
Kym Nitschke the ‘jack of all trade’ regales the team on the exciting trials and tribulations of an accountant on the quest to discover the best ways to structure property portfolios. Kym is the CEO of Nitschke Nancarrow Accountants which has over 1200 business and individual clients, he is a qualified financial advisor, chartered accountant and is a licensed builder. Kym highlights the impact of capital gains tax and how to make the most of it, and gets personal with what he has seen that his plethora of clients have gotten wrong and of course what he has done wrong; lots to learn from an experienced advisor and investor.
Here’s what we covered:
- How does capital gains tax work?
- What happens to your capital gains tax if you move into it after renting it out?
- How to minimize tax on renting your home on holidays?
- Should you buy a holiday home?
- Can you get CGT exemption if you upgrade and move into a new home?
- How to maximise your CGT exemption with the help of the 6 year rule
- How to best structure your property portfolio
- What are the best strategies with buying an investment property
- What are the benefits of owning property in a trust
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EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded in October, 2020.