Hi all,
I’m a. It of a dummie at this kind of thing, so would appreciate any advice you might offer. Basically, I’m currently scouting for property to buy and flip ( possible build and flip). The finance is being provided by a cash rich , time poor partner. (Business not personal). The profit will be split 50/50. My question is that given my other partner has multiple other revenue e streams, she will be subject to a different Capital Gains rate to me. How do we split the profit derived from this endeavour without her say, for example paying Capital gains, then paying me who would then pay an income tax on top ? That sounds like a double tax to me. By the way I have no other source of income ( currently unemployed). Any help would be appreciated immensely.
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