Rush to sell property could prove a long-lasting mistake
Mon Mar 5 2007
The Australian Financial Review --- Page: 40 : 3 March 2007 Original article by Alison Kahler
ABIX Summary
Many Australian investors are rushing to sell property in order to take advantage of superannuation tax concessions. Until July 2007, up to $A1m can be put into super as a one-off entitlement. However, many investors are forgetting that capital gains tax must still be paid on any investments they sell, which could leave them worse off overall for many years. A large number of properties have hit the market since January 2007. This could also depress prices, further compounding the problem.
