T Tom 25th Nov, 2002 #1 Hi, What are the tax implications of converting the title of an IP from say Company to Strata or Torrens to Strata? Does the conversion trigger a Capital Gain? Can the costs be deducted or are they added to the base cost of the property? cheers, Tom
Hi, What are the tax implications of converting the title of an IP from say Company to Strata or Torrens to Strata? Does the conversion trigger a Capital Gain? Can the costs be deducted or are they added to the base cost of the property? cheers, Tom
paulzag 26th Nov, 2002 #2 I don't know the answer but I believe that a new title creates a new property for GST purposes. So any subsequent sale must include GST.
I don't know the answer but I believe that a new title creates a new property for GST purposes. So any subsequent sale must include GST.