All Topics / Help Needed! / Can my subdivision – new dwelling be easily set up as a trust?

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  • Profile photo of darkness72darkness72
    Participant
    @darkness72
    Join Date: 2013
    Post Count: 51

    Just wondering if for this scenario:

    Have existing house which is being subdivided.
    – New dwelling being built at the rear
    – new dwelling has been funded through equity of existing dwelling and other property.

    – When subdivision paperwork has all been approved / adjustment of titles.

    Can I set this new dwelling up in a property investor trust, and not have to cop any stamp duty / CGT issues for setting this up….
    I guess I need to speak with my loans broker, hoping the bank doesnt have an issue with this ….

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    You need to speak to a lawyer – about stamp duty and CGT which would be triggered if the ownership changes.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of darkness72darkness72
    Participant
    @darkness72
    Join Date: 2013
    Post Count: 51

    Shall do Terry,

    By ownership change – would that be deemed to occur in this instance – If I, wife & kids are the beneficiaries of the ‘trust’ for where the whole property (prior to subdivision) has been in our names to date

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    yes

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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