Just wondering if someone may be able to assist in the best way to structure a duplex development to minimise tax and increase profit.
Land is presently in my parner's and my name. Land purchased in 20months ago and has been rented out as an investment property. Purchased for $410K, current value $750K. Cost of duplex development $650K. Estimated value of each duplex upon completion $900K
Considering building a strata titled duplex pair and place one in her name and one in mine and each reside in them for a period of time. Either of us can sell at a later date to reduce capital gains.
Would it be better to set up a hybrid trust?
Any suggestions would be appreciated.
BUNDY
Land is presently in my parner's and my name. Land purchased in 20months ago and has been rented out as an investment property. Purchased for $410K, current value $750K. Cost of duplex development $650K. Estimated value of each duplex upon completion $900K
Considering building a strata titled duplex pair and place one in her name and one in mine and each reside in them for a period of time. Either of us can sell at a later date to reduce capital gains.
Would it be better to set up a hybrid trust?
Any suggestions would be appreciated.
BUNDY
