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Hi all
Can anyone recommend a competent accountant or similar in Wellington who can provide some advice for my situation?
I have two IPs that are residential apartments plus one stand-alone car park, all of which are held in my name.
I would like to transfer these to a company in order to keep them separate from the OOP. I want to do this both for tax and relationship property reasons - the IPs were acquired before current relationship, so I would like to account for them separately from the family income at the end of each year.
All of the IPs are making a good return, and my intent is to keep them ticking along by themselves - that is, to leave the money growing in the company, and to access it when I retire in 20 or so years. Unless something unforeseen happens, I am happy subsisting on my salary income in the meantime.
The advice that I am looking for is broadly:
1) is the company structure the best choice for what I am trying to achieve; and
2) how do I put the capital into the company and take it out in the most efficient way (specifically, for what figure will I "sell" the properties to the company, and how can I extract any capital gains in the event I do sell one or more of the IPs)
3) a little bit of help with the secretarial aspects of running the company (what resolutions/actions I would need to take, how to keep track of the shareholder account etc)
If you have dealt with anyone in Wellington who seems competent with issues of this type, I would be very grateful if you could forward me their contact details.
Thank you all!
Can anyone recommend a competent accountant or similar in Wellington who can provide some advice for my situation?
I have two IPs that are residential apartments plus one stand-alone car park, all of which are held in my name.
I would like to transfer these to a company in order to keep them separate from the OOP. I want to do this both for tax and relationship property reasons - the IPs were acquired before current relationship, so I would like to account for them separately from the family income at the end of each year.
All of the IPs are making a good return, and my intent is to keep them ticking along by themselves - that is, to leave the money growing in the company, and to access it when I retire in 20 or so years. Unless something unforeseen happens, I am happy subsisting on my salary income in the meantime.
The advice that I am looking for is broadly:
1) is the company structure the best choice for what I am trying to achieve; and
2) how do I put the capital into the company and take it out in the most efficient way (specifically, for what figure will I "sell" the properties to the company, and how can I extract any capital gains in the event I do sell one or more of the IPs)
3) a little bit of help with the secretarial aspects of running the company (what resolutions/actions I would need to take, how to keep track of the shareholder account etc)
If you have dealt with anyone in Wellington who seems competent with issues of this type, I would be very grateful if you could forward me their contact details.
Thank you all!
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