Company title property - tax considerations?

Discussion in 'Accounting & Tax' started by scientist, 15th Feb, 2020.

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  1. scientist

    scientist Well-Known Member

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    Does company title property get the PPOR CGT exemption? the property itself doesn't change hands, only shares held by the owner when he/she sells. Does the owner get the PPOR CGT exemption in this case?

    What are some other tax considerations of company title units?
     
  2. datto

    datto Well-Known Member

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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    company title is basically treated the same as strata for tax purposes. But this doesn't mean any property owned by a company. the consitution has to give a right to reside in a specific unit
     
  4. scientist

    scientist Well-Known Member

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    thanks all
     
  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The main residence rules refers to an ownership interest rather than legal title etc. There are tax rulings etc on this. Interest can be through company title, some trust interest and licenses and other rights

    Ownership interest and ownership period
     
  6. ChrisP73

    ChrisP73 Well-Known Member

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    How does the Queensland Duties Act 2001 apply to transfer of shares in a company title unit (holder of the shares is given certain rights of occupancy)?
     
  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    dutiable transfer
     
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