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Hi Corey
Very interesting, would you be able to share who has done this before? Any introductions will be highly valuable, [email protected]
Regards
Hi Terry
Did not understand the first question, “Is the company an incorporated legal practice?” what is it in reference to.
And have not yet completely thought through CGT and Stamps. In case of stamps it would depend on the state and the use of the property, it should effectively be similar to an off the plan purchase.
While getting investors in at the land site purchase itself and then parceling them the end property through a trust structure could lead to stamp savings, there are a few other issues.
Such an offer would require the need for a special AFSL authorization to “issue” shares in interests in land. Corralling investors before land is even acquired is quite hard. Doing it after would lead to a stamp duty event due to change of ownerhship. And if there is a debt associated with the project, investors would become liable for it.
Nonetheless I am sure a structure can be devised, if there is a market demand for it. Just trying to figure out that part first.
Regards
