Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

Restructuring and Bright Line

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Restructuring and Bright Line

    I read somewhere that the crown may consider transfer of LTC shares/property for genuine reasons like asset protection (if sole trader for example) may be allowed
    Currently as it stands, any transfer of shares to selling of property to another entity will trigger Bright line or reset the Bright line even if you have owned the property for 10 years or more.

    Thoughts on how to legitimately do this ?




  • #2
    Wow - that's interesting and I guess a benefit of the transfer may be a lower tax rate.

    This has got me thinking - if businesses have borrowed from the owners or shareholders mortgages - (which many do as it's hard to get business loans) then it's the business that pays the interest repayments and gets the tax deductibility aye.

    cheers,

    Donna

    SEARCH PropertyTalk, About PropertyTalk

    BusinessBlogs - the best business articles are found here

    Comment


    • #3
      Indeed Donna.
      But your business should be making decent margins esp. when rates do go up
      Last edited by BlueSky; 26-06-2021, 01:01 PM.

      Comment

      Working...
      X