Hi everyone
I am looking at either putting a duplex or 2 small houses on a parcel of land that is currently vacant. If it was going to cost me $500K in total to get both duplexes/houses to a saleable state and I was to sell 1 at $300K and keep the other would I have to pay CGT on the 1 that was sold. If no CGT was payable is it then possible to transfer the remaining duplex/house to a SMSF and keep it until retirement age and not pay any CGT on it at all. I am not sure if this is legal but it sure sounds like it could be a good little loop hole doesn't it.
Cheers Troy
Newcastle Knight
income tax, not CGT probably.
It could be possible to transfer the remaining one to a SMSF if the structure is set up first and there is no debt on the property. CGT or income tax would be payable though. But you may get around stamp duty.
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
Thank you Terry,
thought you would of had to pay something
Cheers Troy (Newcastle Knight)
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