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  • Profile photo of ellaboosellaboos
    Participant
    @ellaboos
    Join Date: 2009
    Post Count: 7
    October 15, 2012 - 9:58 am

    It was announced today to try and stimulate economy and construction. Im not sure of the finer details but could be much needed boost..

    Profile photo of ellaboosellaboos
    Participant
    @ellaboos
    Join Date: 2009
    Post Count: 7
    August 27, 2012 - 3:27 am

    Thanks everyone for your input . I feel that this could be a step in the right direction. I think I found some info through sa revenue which states that if it is thr transfer between spouses of the matrimonial home then it is stamp duty exempt. Does anyone have any exp or input in this in SA.?

    thanks

    Profile photo of ellaboosellaboos
    Participant
    @ellaboos
    Join Date: 2009
    Post Count: 7
    August 21, 2012 - 11:05 am

    Your absolutely right about it not being a problem until you want to move forward……

    We have been tossing up so many scenarios to try and get ahead but we feel that keeping all 3 properties would be ideal as they are in great locations and have very good prospects for future growth. Now we need to just make it work for the long haul.

    We have a family trust set up as we work in the construction industry both for asset protection and income splitting.

    Would the transfer be liable for CGT, or exempt because it is PPOR even though we would be converting to IP ASAP?

    Im not sure of the stamp duty implications as we live in SA..will have to do some more digging?

    You mentioned that you deal with this everyday Richard, as a broker is this something that you could look at?

    Thanks so much for your input

    Cheersdevil

    Profile photo of ellaboosellaboos
    Participant
    @ellaboos
    Join Date: 2009
    Post Count: 7
    August 21, 2012 - 9:36 am

    Hi Richard,

    Yes the PPOR is in both our names.

    ANZ is who we have been with for the last 6 years or so, and they have been ok to deal with but yes the loan manager does not have much idea about how to structure from an investment point of view, and obviously only serve their interests.

    Is it difficult to get out of this structure and how would I go about it?

    We really need to set up a structure that is going to suit long term and reduce PPOR debt and maximise deductibility.

    By the way Richard..what are the other 2 reasons for not XColl?

    Cheers

    Profile photo of ellaboosellaboos
    Participant
    @ellaboos
    Join Date: 2009
    Post Count: 7
    August 21, 2012 - 6:32 am

    Thanks Terry,

     We are in SA so Im not sure of the stamp duty implications of say my husband buying me out or vise versa. Our income is distributed via a Family trust, so would it make any difference as to who bought out who?

    Being a PPOR will there be any CGT if it is then turned into an IP say in 10 months time once new residence is built?

    Does the PPOR have to be sold at market value?

    We would really love to knock of the new mortgage with the funds from the transfer/sale, that is the goal, but I am concerned about the Xcoll of the 3 loans and how difficult is it to get out of this structure.?

    Has anyone else applied this structure or been in the same situation?

    Ella

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