mal
Apprentice
Joined: 20 Feb 2006
Posts: 4
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 Posted: 12/29/07 - 07:33 Post subject: |
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| I have started a company some time ago. Business is going relatively well. However, I still have some questions. Some of the properties there are renter to others. However, I would like to sell one, because I want to buy some other property. The only qualifying asset for capital gain is a small property I rent out mostly on holidays and I would like to know if it is possible to rollover the capital gain. Thanks in advance. |
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matthieu
Apprentice
Joined: 26 Jan 2004
Posts: 3
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| Posted: 01/28/08 - 01:48 Post subject: |
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| Qualifying asset would be the only property valuable enough for you to be able to sell it and get capital gain. However, if you have only one, I am afraid you will have to use that one, as the others simply will not do. In other words, you will not be able to rollover the capital gain. Nevertheless, you might want to try and do the best out of it, by buying something similar, yet a bit cheaper and more suitable for you. I hope the information has been helpful to you. Best of luck with your company. |
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