Dear friends,
This is my maiden post and would like to thank any contributors to my query. I have lived in Australia before but am now based overseas. I have a few investors who wish to invest in property development opportunities in Australia and would like me to run it on their behalf. I have done preliminary research and have come to the conclusion I should either set up a company or a trust.
I understand that I would be best speaking to a legal or accountant and would appreciate any recommendations for ones familiar with the Brisbane scene.My questions are as follows:
1) What would be the best structure to conduct property development by buying land and developing units, given my funds are contribute by shareholders.
2) If our intent is to eventually sell some units as a developer, would a company structure be better or a trust?
Many thanks in advance!
Hi Benny
I’d get on to Terry W.
He’s not in Brisbane but you should be able to deal remotely. He’s the man to talk to about your options.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks Jamie will do.
Hi Benny
Do not use either: a company can be OK but only if you buy land/property as trading stock, develop and sell (not hold) and want to pay a flat 30% tax from the first dollar but this is only the PRIMARY TAX, there are more tax nasties coming later.
The best vehicle now IF you are a resident is a SMSF
The amateurs’ will tell you, you can’t borrow to improve the acquirable asset.
But they are incorrect I don’t know any SMSF specialists in QLD but there are many in NSW including me.
Rememeber your purchase structure muste be in place before you enter into the purchase contract.
Regards
Anthony K
You must be logged in to reply to this topic. If you don't have an account, you can register here.
