land tax on trusts in queensland

[Liverpool St]

Hi,

I have some losses trapped in a HDT. I am thinking of purchasing a property in Brisbane - can anyone tell me what the land tax threshold is for a property inside a HDT.

Thank you

 

[Terryw]

Hi,

I have some losses trapped in a HDT. I am thinking of purchasing a property in Brisbane - can anyone tell me what the land tax threshold is for a property inside a HDT.

Thank you

Schedule 2 of the Land Tax Act
http://www.austlii.edu.au/au/legis/qld/consol_act/lta191590/sch2.html


You should seek some advice before you use the HDT again. Also I would be itnerested to hear how the trust accumulated losses as if it was set up to buy a property the individual would be paying the interest on the loan so the trust should be making a profit.

 

[Liverpool St]

Schedule 2 of the Land Tax Act
http://www.austlii.edu.au/au/legis/qld/consol_act/lta191590/sch2.html

Also I would be itnerested to hear how the trust accumulated losses as if it was set up to buy a property the individual would be paying the interest on the loan so the trust should be making a profit.

It wasn't set up for property....I was a Navra client

 

[Terryw]

It wasn't set up for property....I was a Navra client

Ok. Does that mean the trust bought managed funds? Does it have a capital loss or an income loss? Where units issued? Why did you use a HDT for this?

Not trying to be nosey, just seems strange to me.

 

[Liverpool St]

Hdt

Hi Terry,

Mainly a capital loss with some income loss. The rest is a long story, some other time. Thanks for the land tax info

LS