Merry Xmas all………. I was lucky enough to get Steve's latest book for xmas and I have a couple of questions about structure.
All my properties are in my own name. Are there anyways to transfer these into a trustcompany without incurring a massive stamp duty bill etc. Do you also pay CGT in some way shape or form? What is the best procedure if any?
I am looking at purchasing as we speak. Is it to late to start putting properties bought from this day fourth into a companytrust. Or is there no point.
From a finance point of view what is the max LVR Banks will do for a property in a companytrust name?
Fredo firstly Merry Xmas to you also.
I thi9nk i read you are in Qld so if correct NO there is no way to Transfer your properties to a DFT without incurring Stamp Duty and YES CGT could be triggered on the Transfer value depending on a 101 points.
Nothing wrong in starting all future acqusitions in Company / Trust name.
Lenders wil go to the same LVR when buying in Pty / Trust however you might find there are less interest rate discounts offered i.e Pro Pack benefits with some lenders and also the set up costs are normally more as the Deed and Constitution need to be read by the lenders legal dept to make sure all complies.
Your Broker should be able to give you other options when it comes to acquiring in such a structure.
Richard Taylor | Australia's leading private lender
You could borrow if you have equity against the property's as a line of credit and put the money into the trust structure.
Asset protection can be gain on existing properties without moving them to a trust. The CGT and stamp duty would be too expensive to move them so I would just think about future properties being in the trust and talk to a lawyer about protecting the existing ones.
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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