HDT to unit trust (Victoria property trust)

[paisneil]

Hi guys

Just wondering if it's possible to convert a hdt
to a unit trust and what happens to
1 Interest deductibility
2 land tax payable if the property within hdt is in Victoria

Macquarie have some info in their website but not in depth

Thanks

 

[Aaron_C]

Property lawyer I would think on this one as you would need to check for stamp duty and land tax implications.

 

[Paul@PFI]

It may be OK...

MGS wont discuss if you aren't a professional. I used to work at MGS. If you need someone to assist you I can help...Its a very dangerous thing to attempt DIY HDT solutions.

My email below. Send deed and details of what property assets. Also existing HDT structure:
- How many units are issued and who unitholders are and qty of units each.

Typically the tax and duty issues are all considered in the quest to determine a fix.

 

[Terry_w]

Hi guys

Just wondering if it's possible to convert a hdt
to a unit trust and what happens to
1 Interest deductibility
2 land tax payable if the property within hdt is in Victoria

Macquarie have some info in their website but not in depth

Thanks

It is possible, but there are many tax and duty implications.

Interest deductibility could be effected.

Land tax is payable in VIC - small threshold for trusts. But if it is a fixed unit trust there may be some savings