To effectively tax plan multiple properties, taking into consideration + CP is the primary objectives what is their an ideal tax structure…a few people have pointed me in the way of a discretionary family trust, others have suggested setting uo a straight Pty Ltd , or alternatively personally owned. Given Ive see benfits in all , Ive gone for a bit of each…is this wise or should I concentrate on one. (Background married with young children we are PAYG & run a business) Any ideas welcomed[wink]
I owuld use a trust of some sort. for both protection and tax savings. If you run a business, you are at more risk of being sued, so protecting your assets would be more important than the average person.
Terryw
Discover Home Loans
North Sydney
[email protected]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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Companies are not entitled to the 50% CGT discount. Discretionary trusts allow you to change whoe receives the profits each year. Neither of the above let you offset the losses against other income unless the business is in the same structure. If that is the case you have an asset protection problem.
That is just for starters without knowing all your details. You need to invest in some accounting advice. It will probably cost you less than 10% of your stamp duty cost so is well worth it compared with finding out you have made the wrong choice and have to change the title.Julia Hartman
[email protected]
http://www.bantacs.com.au
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