- hi guys
just wondering if any one knows the process of buying others share ( not wife;s ) in an IP
what are the likely costs we should be looking at
process involved
anything can be done ( legally ) to avoid/reduce the costs
has any one done/gone thru this
all ears
thanks
s
Capital gains tax if capital gain achieved for the original owner of their sold share.
State Government land transfer duty. (check SRO in your state or google stamp duty calculator
Legal costs for use of solicitor for transfer of ownership.Hard to lower costs unless property was set up in a trust owned by a company structure when purchased originally.
Costs about $5000 to set up trust and shelf company -you would need to talk to an accountant about it before joint ownership entered into.duckster wrote:Capital gains tax if capital gain achieved for the original owner of their sold share.
State Government land transfer duty. (check SRO in your state or google stamp duty calculator
Legal costs for use of solicitor for transfer of ownership.Hard to lower costs unless property was set up in a trust owned by a company structure when purchased originally.
Costs about $5000 to set up trust and shelf company -you would need to talk to an accountant about it before joint ownership entered into.thanks duckster
i will check for sro in victorialooks like thats fair bit of cost involved in doing that unless u setup a company which is complex process ..
is there any here who can advise on how to setup the trust or can do this …
for example in case of transfer from a to b
who has to bear these costs
both or person b to whom its being transferred to ..
thanks
sFor advise on Company and Trust structures (and Tax) I would recommend http://www.bantax.com.au/
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