Sell investment property now or after we retire?

By George Cochrane
Updated January 5 2018 - 9:48am, first published December 19 2017 - 9:25am

We are a couple, both aged 64 and both working full-time. We own our home in Drummoyne and have had an investment unit in Gladesville worth $700,000 to $750,000, since 2005. Obviously, we would like to retire in a couple of years. We only have about $400,000 each in super, mine in Australian Super and my wife's in First State. I also have about $250,000 in shares. Our tax agent said that we should look at selling the unit (we owe about $250,000 on it) and rolling the difference into our super to avoid capital gains tax. What are your thoughts? Otherwise, if we wait until we retire, we will have to pay CGT as well as not being able to put any of it into superannuation. C.S.

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