Can my subdivision - new dwelling be easily set up as a trust?

Viewing 4 posts - 1 through 4 (of 4 total)

darkness72
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@darkness72
Join Date: 2013
Post Count: 51
May 20, 2016 - 7:54 am
Just wondering if for this scenario:
Have existing house which is being subdivided.
– New dwelling being built at the rear
– new dwelling has been funded through equity of existing dwelling and other property.
– When subdivision paperwork has all been approved / adjustment of titles.
Can I set this new dwelling up in a property investor trust, and not have to cop any stamp duty / CGT issues for setting this up….
I guess I need to speak with my loans broker, hoping the bank doesnt have an issue with this ….
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
May 20, 2016 - 9:28 am
You need to speak to a lawyer – about stamp duty and CGT which would be triggered if the ownership changes.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
darkness72
Participant
@darkness72
Join Date: 2013
Post Count: 51
May 21, 2016 - 10:07 am
Shall do Terry,
By ownership change – would that be deemed to occur in this instance – If I, wife & kids are the beneficiaries of the ‘trust’ for where the whole property (prior to subdivision) has been in our names to date
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
May 21, 2016 - 10:25 am
yes
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au