Forum Replies Created
melbear, terryw, elsium-m, thanks again. your help has been fantastic, i hope i can return the favour one day!….I think I will get my hands on a book like “Trust Magic” as you suggested terryw…..
thanks, and have a great weekend…[
][]Hi SIS,
are you still intending on letting us in on your secrets!….[]Hi Melbear and Simon,
I was just reading Steve’s reply to the question posted by “Damajoo” and he stated as follows:” Hi Anita,
Thanks for your post and welcome to the community!
quote:1. In whose name did you buy the properties?
In the name of the entity which we set up to contropl our property investments. I believe that owning assets in your own name is not the best idea as you can be sued and the lot is on the line. Instead Dave and I created a structure where we control our wealth without owning it in our own names.”
When Steve refers to the ‘entity’ is he referring to a company name which he has set up to be the ‘owner’ of all of his investments..? If so, how is he position at sale time in regards to the 30% tax you have mentioned..? In anycase, I was under the impression that you had to live in a property as the owner for at least the first 12months of ownership to avoid CGT…..I hope I have not spoken out of turn here….!?[]
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