There’s been a few comments in this group & I’ve also received the odd DM that us property flippers are about to pay 47% tax 😱
I wanted to check with my Accountant before posting to make sure I didn’t say the wrong thing out of school. 🎒
His response:
“Hi Graham
This has always been the case and is what we talked about originally.
This is not relevant if you’re buying in a company as the tax rate is either 25% or 30% depending on your circumstances.
I did see the commentary in the news about this, nothing like some scaremongering for something that has always been the case!!”
So, there you have it people, turns out property Flipping is not dead, with the right strategy & structure, we can still make healthy profits. 💰
So my message to Bryce Yardney is simple… Bryce, as Henry Ford once said “If you think you can or if you think you can’t, either way you’re right” 🤔
