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From: Miakat .
Hi all,
I was under the impression that if you held property in a trust, then you would have exemption from land tax up until the usual limit. As you started to approach that limit, you'd start up a new trust.
I spoke to someone else who has told me that their accountant said their is no land tax free threshold in trusts.
I've read through Renton's 'Family Trusts' with no help.
Can anybody help clear this up?
Thanks in advance
Miakat
Hi all,
I was under the impression that if you held property in a trust, then you would have exemption from land tax up until the usual limit. As you started to approach that limit, you'd start up a new trust.
I spoke to someone else who has told me that their accountant said their is no land tax free threshold in trusts.
I've read through Renton's 'Family Trusts' with no help.
Can anybody help clear this up?
Thanks in advance
Miakat
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