All Topics / Legal & Accounting / Unit Trusts and CGT exemption

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  • Profile photo of LinarLinar
    Member
    @linar
    Join Date: 2004
    Post Count: 567
    March 11, 2008 - 9:30 am

    Does anyone know whether an IP purchased under a Unit Trust attracts the 50% CGT exemption on sale?

    Thanks

    K

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 11, 2008 - 12:30 pm

    Hi Linar

    With a trust the income retains its character when passed through. I am not quiet sure if it is the same with a unit trust, but think so. So if the unit holder is a person, then the person may be able to claim the 50% cgt exemption if the asset was held more than 12 months.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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