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From: Shaun Wilkeson
Hi everyone
I've been checking current and old posts for a little while, luv the info!
I'm a virgin in the IP game and have an idea i'd like some feedback on.
Say I set up a trust, and the trust owns a company. The company buys a block, then builds a house.
If I buy the house from the company for a cheap price, ie just above cost, I can claim the FHOG, and get automatic mega-equity compared to the Free Market Value (for comparable homes). I live in the house thus qualifying myself for the 14K FHOG, and then sell the house for market value.
No CGT, mega tax free $$.
Is my thinking correct, and is a company in a trust a reasonable arm's-length transaction (after all I'm not negative gearing - that is a different issue)
I'd luv to know your thoughts.
Cheers
ShaunW
Hi everyone
I've been checking current and old posts for a little while, luv the info!
I'm a virgin in the IP game and have an idea i'd like some feedback on.
Say I set up a trust, and the trust owns a company. The company buys a block, then builds a house.
If I buy the house from the company for a cheap price, ie just above cost, I can claim the FHOG, and get automatic mega-equity compared to the Free Market Value (for comparable homes). I live in the house thus qualifying myself for the 14K FHOG, and then sell the house for market value.
No CGT, mega tax free $$.
Is my thinking correct, and is a company in a trust a reasonable arm's-length transaction (after all I'm not negative gearing - that is a different issue)
I'd luv to know your thoughts.
Cheers
ShaunW
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