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  1. #1

    Default Commecial building - sale of shares to co-director

    I am intending to sell my 50% shareholding to the co-director of a company which owns a commercial building.

    Are there points that I should consider other than the fact that, as it will be an off-market sale, there will be no fees and commissions associated with a real estate agent.

    Any points of view will be appreciated.

    JCMK

  2. #2
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    624

    Default

    Quote Originally Posted by jcmk View Post
    I am intending to sell my 50% shareholding to the co-director of a company which owns a commercial building.

    Are there points that I should consider other than the fact that, as it will be an off-market sale, there will be no fees and commissions associated with a real estate agent.

    Any points of view will be appreciated.

    JCMK
    Get your name released from the bank PG

  3. #3
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,405

    Default

    Tax - If there is Imputation Credits in normal company, these will be lost. Or if you have losses to carry forward, these will be lost.

    So suggest get accounting/tax advice from your accountant before transfer, as might be smarter ways to do it, or might need to declare dividends first.

    Both of these affect the co-director more than you.

    Ross
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.


 

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