Hi all,
Just curious how Chan & Naylor's PI Trust is able to avoid a surcharge of up to $20k
in land tax? Stated in article below:
http://www.knowledgecentre.com.au/g/26747/One-Trust-or-Two-Trusts?.htmlLink to SRO Victoria 2008 Land Tax pdf:
Thanks
Matt
Hi LifesjourneyIn respect to your question
“…..Just curious how Chan & Naylor's PI Trust is able to avoid a surcharge of up to $20k in land tax? Stated in article below:….”Answer:The article actually stated below
“…..In Victoria it's very similar to NSW, except our Property Investors Trust will get a $20,000 land tax threshold…”
Just to ensure we are all on the same page. We didn’t actually say that the “PIT avoided a surcharge of up to $20K in land tax”.
What we said in the article was that our “PIT gets a land tax threshold of $20K” is which completely different. The reason why the PIT gets a land tax threshold of $20K is because it has Discretionary Trust characteristics and in Victoria Discretionary Trusts get a land tax threshold of $20K.
Regards
The Team at Chan & NaylorThanks for your reply,
The way the article reads may lead people to thinking that only "your" PIT has these threshold benefits “…..In Victoria it's very similar to NSW, except our Property Investors Trust will get a $20,000 land tax threshold…” Although I realise these type of articles are designed to give general info whilst selling the "product", which is fine.
Enjoy your day, Matt
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