#THREAD should I buy my property in a trust, company or in my own name? Well, the question is loaded and biased.
If you're not planning to sell the property ever, it might make sense to put the property in a trust.
As a trust never dies, you can transfer the wealth to your kids without the issues of estate duties.
A trust is taxed at 45% for income, so you need some help with planning this!
If you're thinking of running property as a business, it might make sense that you put the property in a company. Though taxed at 28% property tax, if your personal tax bracket is higher, then you might have the ability to grow your money with a lower tax bracket.
With a company and a trust, you need to remember that you need to have all your tax and technical paperwork in place. Note that fees on selling, loans, and bank fees might be substantially higher for these!
In your own name is terrible for tax when you die.
It's great for when you sell later, as the CGT is a lot lower.
I suggest speaking to an expert - someone like @Shillyboy_m who knows these things really well.
You can follow @FrugalLocal.
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