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Nice in theory but if a very significant portion of the...

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UniversalTrader

18,280 Posts.

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18/09/17

07:44

Post #: 27278619
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Originally posted by donmath ↑

The other way perhaps is:
When you buy a house, buy the house as a company eg., " 20 Flowers Street HOLDINGS PTY LTD"

Then sign yourself on as a directer and as a shareholder with a Total $1.00 fully paid ordinary share.

When it comes time to sell....
...accept a Paper Bag containing the full cash price, transfer/sell your $1.00 to the new shareholder and resign as the sole director, and install the new owner as sole Director.

That way the government misses out on their Capital gains tax wrought and their atrociously unfair Stamp Duty wrought --- BECAUSE THE PROPERTY NEVER ACTUALLY CHANGES OWNERSHIP!

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Nice in theory but if a very significant portion of the population started doing it then the govt would change the legislation to suck you dry again.

Other downsides are that you will have to pay the annual company fee + do a tax return for the company so for the average person it will probably cost at least another $500 annually.
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