IP Ownership Transfer

[lindsay_jones]

What is the best way for a family that owns a $180k IP in Adelaide SA to transfer ownership of that IP to a newly married son and daughter in law,with the least amount of transfer fees

Thanks

 

[Sim]

*bump*

 

[bundy1964]

Hmmm I guess you still want to be alive after the transfer

Sell it to them at your depreciated cost base price.

Let them live in it at market rent and claim all your deductions and give them the rent money back as a gift.

You haven't got a single daughter have you?

Ask a good accountant

bundy

 

[DaleGG]

Hi

This is probably a good question for your solicitor. However, in some states you can transfer property under the love and devotion rules without paying stamp duty at all. I do not know about SA though.

Also, watch out for CGT as this will apply whenever the ownership changes.

I'm sorry that I cannot help much and good luck

Dale

Originally posted by lindsay_jones
What is the best way for a family that owns a $180k IP in Adelaide SA to transfer ownership of that IP to a newly married son and daughter in law,with the least amount of transfer fees

Thanks

 

[bundy1964]

Re: Re: IP Ownership Transfer

Originally posted by DaleGG
However, in some states you can transfer property under the love and devotion rules without paying stamp duty at all. I do not know about SA though.

Hi

You may find it here - http://www.revenuesa.sa.gov.au

bundy