Actually it could be possible for one company controlled by wife and one controlled by husband to not be related and therefore get an exemption each - under some circumstances.
Actually it could be possible for one company controlled by wife and one controlled by husband to not be related and therefore get an exemption each - under some circumstances.
That is some heavy reading for a Sunday night lol.
It's something we really have to look into though as we would rather keep buying in nsw so if using a company or two is a way around it for us we will consider it.
That is some heavy reading for a Sunday night lol.
It's something we really have to look into though as we would rather keep buying in nsw so if using a company or two is a way around it for us we will consider it.
You also need to consider all the other consequences to a company owning property - no 50% CGT discount, income tax, dividends, succession, control etc etc.
Its not as easy as that. While the trust may well stream a discount capital gain the tax position of the beneficiary is the key element.
- Beneficiary with a Carried fwd loss would lose the discount on the extent of the losses used.
- Non-resident beneficiary loses discount
- Family trust election and other issues
Thanks Terry and Paul. I was firstly keen to have it confirmed that the trust does get the discount. We will be likely selling a house soon with a big capital gain and we have various options with beneficiaries, tax positions etc.