Selling to yourself

Discussion in 'The Buying & Selling Process' started by wayne, 29th Sep, 2016.

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  1. wayne

    wayne Well-Known Member

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    We are looking at removing a IP from a Trust.With a recent property inspection uncovering that the property has suffered structural damage (roof and foundation sinking issues) as well as the current tenants (uni students) trashing the property.

    What would be required to determine reasonable value when selling to yourself with regard CGT.
     
  2. Terry_w

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

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    valuation?

    The bank will require a valuation if you will be mortgaging the property - you could use that.
     
  3. TMNT

    TMNT Well-Known Member

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    yes, i am willing to sell myself, but i would never find a buyer
     
  4. jrc

    jrc Well-Known Member

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    Any repairs you carry out after you purchase from the trust would be classed as initial repairs.