Have been taking to Chan and Nalyer Accountains in Sydney about their new Trust Structure that has the same tax benifits when holding properties that a private investor has eg 50% capital gains free after 12 months and a land tax base of $300K wondering if anyone has one or has any comments on the trusts Thanks Grey[smiling]
I’m not a solicitor nor an accountant.
To my understanding, a trust permits the _flow_through_ of 50% capital gains tax discount. That is whether 50% discount can be taken depends upon the entity to which the capital gain is distributed.
I don’t think a trust gets the land tax discount (under NSW law anyway). I suggest asking the Office of State Revenue directly.
I made a post here a few days ago, but looks like it didn’t get through.
NSW OSR’s take on trusts changed a few months after the PIT trust was released. I think they were marketing it as a way to reduce land tax, and I am not sure if this is still the case or not.
All discretionary trusts would get the 50% CGT discounts as the incomes are passed through to the beneficiaries. If the beneficiary is an individual, the discount should be available if the trust held the asset mroe than 12 months.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.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
You must be logged in to reply to this topic. If you don't have an account, you can register here.
