About to sell an asset? The timing could save you thousands in tax #investing

If you’re thinking about selling an asset and you know there will be a capital gain, the timing of that sale can make a big difference to how much tax you pay.

As you approach retirement, many people want to simplify their finances by selling investment properties or shares. If you’ve stopped working or your income drops, that can be a smart time to trigger gains because your taxable income is lower. Lower income means you’re not pushed into the higher tax brackets when the gain is added on.

There are also strategies like contributing to superannuation and claiming a tax deduction to help offset those gains. The key is planning the timing, not rushing the sale, and getting advice before you act.

Your accountant and financial adviser can work together to reduce the capital gains tax you pay and help you transition into retirement with a cleaner, more tax-efficient structure.

#finance #investing #australianbusiness #taxplanning #businessowner #wealthplanning

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