How can one transfer a property from an individual name into a trust or company without incurring high costs such as captial gains tax, stamp duty and the like?Also, can anyone confirm if a company pays capital gains tax on a buy/renovate/sell model. If there is CGT to be paid is the rate at 27%.
Much appreciated
Walter
In answer to your first question you cant. Any Transfer will incur Stamp Duty and in a gain has been made CGT.
With regards to the Tax rate payable by a Company.
If the Company was deemed to be involved in the business of buying, renovating and then selling property the profit would be consider as Trading stock and Tax would be payable at the normal Corporation rate of 30%.
Richard Taylor | Australia's leading private lender
I think you can transfer your PPOR free of CGT to DFT ??check with your accountant
but still incur stamp dutyYes you can GOM not an IP where a Capital Gain has been made though.
Richard Taylor | Australia's leading private lender
Yes you can GOM not an IP where a Capital Gain has been made though.
Richard Taylor | Australia's leading private lender
It may not be necessary to transfer the proeprty to a trust as asset protection can be gained by other methods and a structure can be set up to maximise tax savings as is too.
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
How can one transfer a property from an individual name into a trust or company without incurring high costs such as captial gains tax, stamp duty and the like?
You must be logged in to reply to this topic. If you don't have an account, you can register here.
