Selling property to a family trust

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Cabo Wabo
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@cabo-wabo
Join Date: 2005
Post Count: 117
October 10, 2006 - 1:26 am
Ok, i’ve picked my accountants brains, and he reckons he is now doubtful SD can be avoided. Back pedalling a bit…
Well, there u go, u guys were right. Bloody Johnny Howard and the tax department huh?
Cabo Wabo
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
October 10, 2006 - 4:25 am
Cabo
SD cannot be avoided but it is not JH but the respective State Govts that collect the duty.
Cheers
Richard Taylor
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cata
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@cata
Join Date: 2005
Post Count: 559
October 10, 2006 - 6:49 am
Exactly Richard
The stamp duty goes to The “Office of STATE Revenue”.
CATA
Asset Protection Specialist
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redwing
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@redwing
Join Date: 2003
Post Count: 2,733
October 14, 2006 - 12:06 pm
Originally posted by tammy:
How about selling PPOR to trust and then leasing it back? Then transferring PPOR status to buy build sell projects (1per annum). I have asked 3 accountants about this and have recieved 3 different opinions, yes, no and yes but dont use a trust, just do it in your own name.
If any one has a learned opinion I would be interested. I am in muddy waters at the moment.
Tammy
How about selling PPoR to trust and using the funds to assist in purchasing new PPoR?
The best thing about Trusts is thier flexibility as your needs change over time..IMHO its well worth talking to someone who knows what they are talking about re: Trusts and the variations within , many accountants don’t
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