Ive bought a property in sydney some time ago and recently with my brother have set up a trust and company. I am wondering if any body knows the best way to put the title of my property in the companies name with out paying stamp duty ie can i sell the property to the company for like a thousand dollars.
Wade
I dont think there is a way around it apart from selling it at market value to the trust and coping the stamp duty (we are also in this situation as we didnt have any legal structures when we started investing)
Best thing to do is purchase all future properties in the name of your trust and borrow out the equity of the one in your individual names, this should provide some asset protection.
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phone 0412 437 582Originally posted by RJW:Ive bought a property in sydney some time ago and recently with my brother have set up a trust and company. I am wondering if any body knows the best way to put the title of my property in the companies name with out paying stamp duty ie can i sell the property to the company for like a thousand dollars.
Wade
[blink]Good Luck !! We’ll come visit you and Bubba in jail[biggrin]
Just joking..You’ll have to sell it at a realistic market value and you’ll have to pay stamp duty if you sell to the trust.
Leave it out of the Trust and borrow against the equity in it for the next IP you put in the trust would be an option…or sell it use the realised gains and move forward buying the next properties under the trust structure..what kind of trust are you using?
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