Ed Chan

Discussion in 'Accounting & Tax' started by Jacque, 1st Feb, 2006.

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  1. TryHard

    TryHard Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    661
    Hey Salsa

    What would you actually be achieving changing the 50/50 split in personal names ? If its going to cost you stamp duty, wouldn't it be better just to leave as is (or sell CGT free, then purchase the next PPOR in the required proportions?) - assuming you might want to move of course :p

    If you already have corporate trustee over the trust with IP's in it, you'd reckon that'd be at least a layer of potential protection, if its hubby's share of the PPOR you're trying to protect ?

    I think the 1/99% split is the ideal suggested structure for a situation where one partner is high risk (self employed etc) compared to the other, but I don't know if a 50/50 versus 1/99 makes that much crucial difference ?

    NickM? :p

    Cheers
    Carl
     
  2. Soy

    Soy Well-Known Member

    Joined:
    23rd Aug, 2015
    Posts:
    112
    Location:
    Australia
    carl,
    Oh no we are already on 50/50 split of ownership of PPOR.We know transfer stamp duty is expensive and that is why we try to not to have to re-split.
    Yes it is the hubby's part of PPOR we want to protect as he is company director (we are both director at the moment but I will soon resign according to Lawyer's recommendation) . Lawyer says the director could be sued for negligent (not that we are).
     
  3. TryHard

    TryHard Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    661
    Hey Salsa

    The more experienced here will probably correct me, but my understanding is unless as a company director your hubby signs a director's guarantee, or unless the company is involved in something highly questionable ( :) ) the structure of the company will offer a reasonable amount of protection ? I guess if the amount of stamp duty involved isn't too bad, maybe its worth it ? Nigel and NickM will know the answer...

    Cheers and happy weekends
    Carl