Is it possible to transfer titles from one company to another without the cost of stamp duty and exit tax if directors are same in both companies…
chris preston
Hi Chris,
Not an accountant so disclaimer applies.
As far as I know you will cop the lot; stamp duty, vendor duty and there will be no exemption from CGT as the property is held in a company name.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958I don’t think so, but go to the website of the office of state revenue in your state, there may be further information available there.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]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
I’m no accountant either, but the only possible way that I can think of is if the company with the assets is a subsidiary of the other company, as rollover relief provisions may apply when transferring assets to a holding company – at least as far as CGT goes, not sure about stamp duty.
Otherwise not that I know of – and the shareholders being the same would be more relevant than the directors being the same.
GP
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