VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time ]


[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: Monday, April 08, 01:09:32pm
Author: Deb
Subject: Tax implications question

I have just sold my family residence, after separating from my husband.
After paying off the mortgage owing, and splitting the remaining funds, I have $50,000 left.
My understanding is that I do not have to pay Capital Gains tax on this amount, because it came from selling my primary residence, so this isn't an issue.
I wondered what the most effective tax strategy for these funds would be? Currently I have the funds parked in a bank account, and intend on sending any interest gained directly into my super fund. Is this the best thing for me to do, in your opinion?
Would this strategy stop me from paying any unnecessary tax?
I would roll the total amount over, but will likely need it in the short term to purchase another residence, or at least use it as a deposit for that purpose.
Help!

[ Next Thread | Previous Thread | Next Message | Previous Message ]


Replies:



Post a message:
This forum requires an account to post.
[ Create Account ]
[ Login ]
[ Contact Forum Admin ]


Forum timezone: GMT+10
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.