Hi people,
I've had great advise from the forum and still learning, I've a new question.
I would like to know, if it's worth while for my wife and I to create/reg a company name, to buy shares and future investment properties.
Our current home loan is I/O and under both our names.
In the past when I was single, all investments in shares were done under a my name, moving forward we would like to do it together, is it worth while to have a company or just joint names.
Open to other options
Thanks
Hi Work Ur Money,
Firstly welcome to this forum, Since I am a big batman fan lol, I would be more than happy to offer you an opinion.
Best thing to do is to talk to an expert in this field, Terryw on this forum will be able to provide you with great advice on structures “etc” for your situation.
My wife and I have our holdings split into two categories – 1) Into a Trust and 2) under my name as well.
Are you planning to set up the structure yourself? If so I would honestly recommend getting an expert to set this up for your properly, Also see what the PROS and CONS will be for each structure/situation.
I would also talk to an accountant about transferring shares from your name into another entity, from my personal experience, we had allot of shares that were making a profit and some of the shares we moved into the trust incurred capital gains tax as well.
Do your due diligence and set up it correctly from the start, I have a great accountant based in Melbourne who knows shares back to front, If you want his details please let me know.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi WUM
A company would not be able to take advantage of the 50% CGT discount on properties held for longer than 12 months.
A trust with a company as trustee would.
A unit trust if structured correctly would have a land tax free threshold in NSW
A discretionary trust and a unit trust has a land tax free threshold in Qld
A unit trust is not protected from the creditors of an individual unit holder.
You may be able to transfer units into super later on
A discretionary trust is protected from the creditors of beneficiaries
All of the above only works if structured right.
Setting an entire structure up with the ability to add and remove components where you need to is ideal
RPI | Certus Legal Group / PRO Town Planners
http://www.certuslegal.com.au
Email Me | Phone MeProperty Lawyer & Town Planner
Thanks for both your responses.
I wouldn't be setting this up myself, I would get someone to arrange it, as you guys have mentioned, get it right from the start, so that I could avoid issues later on.
Might do more reading and have a chat with the family accountant
Hi money for u
Good idea….
Its amazing how many people are starting to get back into the share market the yields are great
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Prob not a good idea, generally, to own appreciating assets in a company – 30% flat tax, not CGT discount and inflexible. What about all the franking credits with shares? Would largely be wasted.
I would look more closely at trusts.
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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