Forums / Property Investing / Creative Investing / Any Good Lease options Lawyers/tax accountant recommended in Melbourne?

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  • Profile photo of CrisCris
    Participant
    @cristineyang
    Join Date: 2016
    Post Count: 10

    Hi All,

    I am new to the lease Option deal and would like to work with experienced lawyers in the lease option field who can give me practical legal advice related to the lease options and the tax ? as I heard about there are ways to structure a lease option deal so that it can in its best case minimize the Capital gain tax? Any good tax accountant who is experienced in this field please also connect with me and i would like to work with you too.

    Pls email me at [email protected]

    or directly leave your contacts here, thank you

    Cris

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Lewis O”Brien used to be the lawer to go to for these things.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of CrisCris
    Participant
    @cristineyang
    Join Date: 2016
    Post Count: 10

    hi Terry

    thanks a lot for your information. so u will b able to assist me in Tax then in the area of lease option? for example how am i going to structure the deal in the best way to avoid a big tax bill within the law ? or should i form a trust or any legal entities to these deal instead… will you be able to help me on those? R u based in Melbourne?

    Cris

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    I could help on the structure and tax side, but I don’t practice property law so cannot really assist in that area, but I know a bit. I am also conducted some lease options myself in the past – but would not do again. I am sydney based.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,065

    Get Terry to sort it out – guy knows his stuff and distance shouldn’t be an issue.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]m.au

    Profile photo of JBevJBev
    Participant
    @jbev
    Join Date: 2013
    Post Count: 1

    Hi Terry

    I noticed you said you wouldn’t do another lease-option. Could you expand on your experience and the issues?

    Thanks

    Josh

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    HiJosh

    The trouble is the transaction costs. The stamp duty etc and then more costs when they cash you out.

    Also there are also many legal and tax complications.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DeanneDeanne
    Participant
    @deanned
    Join Date: 2016
    Post Count: 7

    Hi Cris, I also recommend Lewis O’Brien.

    E: [email protected]
    P: (03) 9888 6388

    Many people don’t use Lease Options in VIC because Stamp Duty is payable upfront on the Option as well as when the Tenant/Buyer purchases the property. So a double-dip.

    Cheers.

    Deanne | Creative Property Academy
    http://creativepropertyacademy.com.au
    Email Me

    Profile photo of daniel vicdaniel vic
    Participant
    @daniel-vic
    Join Date: 2013
    Post Count: 120

    How about instalment contract is there stil two lots of stamp ?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    What do you mean by two lots?

    You would have to pay stamp duty on your purchase and the person you sell it to would have to pay stamp duty as well, so that would be 2 lots.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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