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One IP one trust

Discussion in 'Legal Issues' started by wayne, 30th Sep, 2016.

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  1. wayne

    wayne Active Member

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    Looking at buying further NSW IP's and are looking at an appropriate vehicle to minimise land tax. If we structured individual LTUT trusts to hold one property only - this will provide a land tax threshold per trust. correct
     
  2. kierank

    kierank Well-Known Member

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    I don't know about NSW but, in QLD, if you have properties in multiple trusts with the same trustee, the OSR 'amalgates' the trusts/properties for Land Tax purposes and you only get one threshold.

    Simple solution: have trusts with different trustees.

    Something to be aware of/look into.
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    No it won't.

    Unit holders as assessed as if they are the owners of the land.
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Not necessarily. Just have different beneficiaries. (not that you would want to structure with a trustee being trustee of more than one trust).
     
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  5. kierank

    kierank Well-Known Member

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    Yeah, we had a same list of beneficiaries.
     
  6. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    A company owner is the alternative. However if its neg geared or held for capital growth there will be issues
     
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