I would like get some property transferred asap. However, I am tempted to wait until the next financial year (which isn't that far really) so I can get an extra year to pay for the CGT.
I am worried that the fees and charges, and possibly the council rates valuation might get increased therefore negating the savings in interest of me getting an extra year to pay for the CGT.
What are your thoughts on this?
Do council rates valuations only happen in January?
Transfer to a related party?
It is usually the date of the contract that counts and not the date of the transfer. If related party there may be no contract – but there could be.
You will need a valuation for stamp duty purpose if related party. Council rates valuation probably won't do as only covers land I think.
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
Thank you Terry.
Yes , to related party.
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