A question for people familiar with companies.If i own a company can I purchase a house with the company and rent the house back to myself. And can I purchase the house off the company for myself some time in the future.
yes but many issues such as
fbt
cgt
stamp dut
asset protection
etcnot worth doing
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes, you can, but as Terry points out, you will pay CGT on the sale.
And you can't sell it at a discounted rate, as the CGT will be calculated on the market value at the time of sale.
I agree with Terry, it's not worth it.
forgot to add land tax to the list too
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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