JV Costs & Where to Start

Discussion in 'Legal Issues' started by Mick Butterfield, 21st Sep, 2016.

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  1. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Mick Butterfield, 21st Sep, 2016
    #21
  2. Terry_w

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

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    Perhaps a 90/10 split will be cheaper in terms of duty, but there could be other things to consider.
     
    Terry_w, 21st Sep, 2016
    #22
    Perthguy and Mick Butterfield like this.
  3. Paul@PAS

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

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    No duty if the land owner is a company in some states. :)
     
    Paul@PAS, 27th Sep, 2016
    #23
  4. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Hi Paul. Do you know if that is the case in NSW? The land owner is a company at present but I will be doing this (at present as I am waiting to speak with my accountant) in my wife and I's personal name.
     
    Mick Butterfield, 27th Sep, 2016
    #24
  5. Terry_w

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

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    I think Paul is referring to the transfer of shares of a company. In NSW there is now no duty, unless the company is a landholder - which is generally defined as holding land worth more than $2mil
     
    Terry_w, 27th Sep, 2016
    #25
  6. Mick Butterfield

    Mick Butterfield Well-Known Member

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    I am positive that this company is not holding that much!!!
     
    Mick Butterfield, 27th Sep, 2016
    #26
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