- I have a question, can someone please answer it urgently.I have put an offer for a 300 acre rural property in nsw.I am concerned if in the future I sell it in few years time, then I will pay cgt.
Could you please advice me the best way to purchase this property through example principle place of residence, or discretionary trust, etc..
Also I am thinking that when I die my childrens don't have to pay cgt when they inherit the property if i don't sell it.Do you suggest to buy through "property investors trust" as suggested by this article-I suggest you see a lawyer. The CGT exemption for PPOR only applies to a max of 5 acres I beleive. So possibly the best way to hold it may be a discretionary trust – but in NSW there is no land tax threshold for discretionary trusts. There is for some units trusts, but it is a bit complicated as there are also different rates for rural properties.
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
My understanding is the same. PPOR exemption only applies to the dwelling on the property and the 5 acres that surrounds it.
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