Author: racetime
Timestamp:- 7/3/2010 6:55:38 PM
Subject: Selling your New Horse
Message:
Just reading how one of the owners of SSB made $1m for his 10% $15k investment. A great result no doubt.
With all the new horses being bought at yearling sales at present it is worth noting that if your share in any horse cost $10k or more, Capital Gains Tax applies, and that is an unwelcome sting in the tail.
A 10% ($15k)share in one name in SSB attracts CGT, 2 x 5% shares ($7.5k in two names ) = NO CGT.
Might never be a problem, but then again....dreams can sometimes come true.
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