Dean Lupson
Legal documentation and tax implications
In some areas of Australia right now , the value of the family home has risen to such a height that when downsizing there can be major windfalls that see several hundreds of thousands of dollars of equity released , and in some cases up to a few million dollars .
So there are two questions right there : What is the best way to invest or spend the ‘ spare cash ?’ And are there tax implications ?
Quite often we see downsizers buying a smaller but suitable home and then investing in another property down at the beach or in a country getaway that allows them to share their time between seasons and holidays .
Therefore , with the increase in cash and bank accounts comes 037