Hi,
I own several properties in a company. There are two directors in that company, my brother and I.
I also own several properties in my own name as well as my wife's name separate to the company.
At the moment, I pay the Land Tax bills separately. One for the company and one as an individual. I am worried that the Tax Office will combine all of my assets together one day and I will be up for a massive Land Tax Bill which I won't be able to pay, be forced to sell and then throw all the hard work that I have worked towards out the window.
Can anybody please share their wisdom on this issue and how the ATO would treat this?
Many thanks.
I own several properties in a company. There are two directors in that company, my brother and I.
I also own several properties in my own name as well as my wife's name separate to the company.
At the moment, I pay the Land Tax bills separately. One for the company and one as an individual. I am worried that the Tax Office will combine all of my assets together one day and I will be up for a massive Land Tax Bill which I won't be able to pay, be forced to sell and then throw all the hard work that I have worked towards out the window.
Can anybody please share their wisdom on this issue and how the ATO would treat this?
Many thanks.