All Topics / Legal & Accounting / Transfer property into trust

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  • Profile photo of SebastianSebastian
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    @sebastian
    Join Date: 2003
    Post Count: 55
    April 13, 2005 - 4:57 am

    Can you transfer a property into a trust that you own at the same as the original purchase price so that you do not have to pay CGT?

    I suspect not but thought I would ask anyway.

    Thanks

    Sebastian

    Profile photo of tonyy21692tonyy21692
    Member
    @tonyy21692
    Join Date: 2003
    Post Count: 128
    April 13, 2005 - 5:12 am

    hi Sebastian

    Yes transfer triggers a CGT event and it is required to be at market value. You would support your transfer price with a valuation from a registered valuer, (BTW you can value shop).

    Regards
    Tony

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