All Topics / Legal & Accounting / Absorb losess from a trust?
Hi,
I am a bit confused my question is..
Can Trust (A) hold a retail business that has an income and absorb losses from Trust ( which holds negative geared property?I have seen a few accountants lately and all of them are giving different answers to my question.
Some accountants had said yes the income from one trust can flow to another trust with a loss. Other accountants I've seen have said no it's not possible.I've read the page at the following link, and presume that it's possible?
http://www.ato.gov.au/super/content.aspx?doc=/content/71255.htm&page=37&H37I appreciate any advice on this, and please correct me if I am wrong.
Cheers
Yes it can. But there are complex rules involved.
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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