Hi All
For all those that invest regularly in property….
Is it best to purchase IP’s under a Pty Ltd company rather than under your own name ? (for tax reasons im thinking)
If so, are there any implications to watch out for that might find ones self in a difficult situation?
Any advice on this would be muchly appreciated!!
Cheers
Lyndon
Hi Lyndon.
Suggest you research Steve’s resource of Wealth Guardian (go to the on-line shop and navigate from there). For a novice in asset protection, it is money well spent.
You may find people are reluctant to give you specific answers as it could be construed as financial advice. Read up on trusts as well as companies for the protection issues and the tax issues.
Mum
Hi Lydon
it is better not to buy in a Pty Ltd as you will loss your 50% deductabilty on Capital gains. If you own a property for more than 12 months then you only pay tax on 50% of the profit, however a company pays it on the full amount. (Not Good)
Trusts are a great way to buy property for Tax and asset protection purposes.
Dale Gatherum Goss has an excellent book called “trust magic” which covers this topic.
http://www.gatherumgoss.com./
I’ve never read Steve’s matterial so i can’t comment on which is better.regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auI was going to say the same thing as Westan. Companies are not good for holding assets because of the CGT rules. Look at discretionary trusts instead – including hybrid discretionary trusts.
Terryw
Discover Home Loans
Parramatta
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Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry
good to see i’m saying the right thing [biggrin]. Hope all is well for you , i haven’t spoken to you (on the forum) for a long time.
For those new to the forum Terry is the longest member of this forum and the most active contributor, the backbone to the place.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auOriginally posted by westan:Terry is the longest member of this forum
[weird]
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.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
Hi terry
oops
gee i hope you can live up to the reputation !
i suppose your subscription will increase dramatically
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi
Could someone please tell me if you buy it using a company trust who’s name goes on the contract . does the trust or the companys name go on but mention that the company is buying on behalf of the trustThanks Rob
The trustee’s name goes on title. In this case it would be the company.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.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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