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Why it may be a good idea to use a company to own property
I would see that scenario as somewhat similar benefit wise as to what I proposed, only that Company 3 is a trustee of the discretionary trust. You can ask your accountant if there is a problem having you as a trustee of the discretionary trust that owns the shares in Company 2 and see what he...- Mry
- Post #65
- Forum: Accounting and Tax
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Why it may be a good idea to use a company to own property
My general rule of thumb is to use a company with a DT as the shareholder for developments because (a) asset protection, and you can shut them down after the development is finished at some point and (b) the profit is ordinary income, not capital gains so you don't have to worry about losing out...- Mry
- Post #63
- Forum: Accounting and Tax
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Why it may be a good idea to use a company to own property
In Queensland, trusts have their own land tax threshold, and a corporate trustee can provide the asset protection. Capital gains at worst would be 24.5% for anyone in receipt of them. Since trusts can distribute the tax free elements out and a company cannot, I'd still be sticking with trusts...- Mry
- Post #55
- Forum: Accounting and Tax