Can someone please give me advice about which method is it best to purchase property in – as a company or in my own name? What are the tax pros/cons?
I have read Steve’s book and I understand that Steve and dave bought properties as a company. Is this true?
Thanks
Jack
Hi jack
I wasn’t going to respond cos it’s late, but I will and then I’m off to bed.
Don’t buy appreciating assets in a company name! There is NO discount for CGT in a company.
As to your situation – it depends what you want to do. Personally, I am buying my properties in a discretionary trust (there is a lot of argument for hybrid trusts as well – I think that’s in heaps of detail on the somersoft forum), which has a company as the trustee. I think you’ll find that Steve and Dave have done the same.
As always, speak to your accountant. You could also do a search on this subject – it has been debated/discussed many times before.
Cheers
Mel
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