Reinvest the capital gain

Hi All
I am planning to sell one of my property and reinvest in other properties. I am getting around 300K Capital gain and would like to reduce TAX.
Is it possible to eliminate the capital gains tax if i reinvest all the profit?
Thanks in advance for your help.

 

no

 

CG a bummer, did you check with your accountant if can offset anything Prior to selling??????

 

Australia doesnt have "rollover" provisions like some US CGT laws allow. US tax laws do allow some deferral into a rollover for a replacement / subsequent asset.

If a large gain is potentially available consider a few things :
- Carry fwd deductible super top up ?
- Non-concessional super contributions....Could this assist a super fund to buy the new asset so some concessional benefits later result ?
- Aged 65+ downsizer rules
- Estimate the tax and plan its timing
- Medicare levy and medicare levy surcharge !! Make sure you have private health to keep that cost down
- Correct calcs checked before selling, and updated after. And a known amount of tax so you can set that aside.

 

In the Small Business areas there are Small Business CGT concessions one of which is rollover relief which can allow rolling over a capital gain into another asset - a very limited concession

 

As others have mentioned can’t avoid tax, have you considered potentially not selling and accessing the equity via more lending?

Noting this would require meeting servicing requirements for more lending & we don’t know anything about your personal situation or the property involved whether this is suitable.

 

Of course if the total gain is $300K the tax payable could be perhaps $75K. Its also important to consider what the net equity (after taxes and selling costs) will provide. Alsdo consider the imapct on future returns - Does it remove +ve geared rental income ? Or a loss ? Land tax ?

A main reason many sell when they dont want to can be to buy a bigger home. Debt free using equity. But as @craigc says retaining a debt knowing there is potential equity in a IP is different.

In such cases a comparision of plan A and B is best approach

 

Thanks every one and sorry for the late response.