Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Property owned in the business name vs personal name?

Reply
BlueDolphin
Frequent Contributor
I make use of the 2 (or more) trusts way but the "one company method" I am not so sure about. I use Treasury Trust Services, a Treoc comp., as my independent trustee.
0 Kudos
olilau
Frequent Contributor
Mr S LOTS of fractured advice from lots of people with a very fractured view of what your overall situation is. most of the advice very good, not all, but you know, fractured. to put that into accounting terms, it would make the advice impaired. pls consult with a professional as your personal, present circumstances as well as your future intentions will play a role. generally, and this is common knowledge : -you have to personally own and you have to live in your primary residence to get primary tax exemption (if you dont live there, you lose the primary exemption) -on the sale, you will pay less CGT as a personal rather than a business owner -there are other complicated tax considerations on sale of a business property (selling property, selling business, dividends tax ?) -business ownership is an advantage where you want SHARED ownership with partners in a structured vehicle. -trusts are good as long term security (beyond grave long) but there is so much more that goes into it and ultimatley comes out of it. be honest, how many people here, when the business of circumventing transfer duty on sale and therefore buying in a CC started, knew of the pitfalls once those loopholes got closed one after the other ? dividends tax being a popular one.
0 Kudos
olilau
Frequent Contributor
Mr S LOTS of fractured advice from lots of people with a very fractured view of what your overall situation is. most of the advice very good, not all, but you know, fractured. to put that into accounting terms, it would make the advice impaired. pls consult with a professional as your personal, present circumstances as well as your future intentions will play a role. generally, and this is common knowledge : -you have to personally own and you have to live in your primary residence to get primary tax exemption (if you dont live there, you lose the primary exemption) -on the sale, you will pay less CGT as a personal rather than a business owner -there are other complicated tax considerations on sale of a business property (selling property, selling business, dividends tax ?) -business ownership is an advantage where you want SHARED ownership with partners in a structured vehicle. -trusts are good as long term security (beyond grave long) but there is so much more that goes into it and ultimatley comes out of it. be honest, how many people here, when the business of circumventing transfer duty on sale and therefore buying in a CC started, knew of the pitfalls once those loopholes got closed one after the other ? dividends tax being a popular one.
0 Kudos
partridge
Super Contributor
The worst part about this whole discussion is that it (the "advice") is all given in a vacuum and all the usual stuff gets trotted out. Do yourself a favour and pay( repeat pay) a good specialist adviser to develop a comprehensive financial plan in conjunction with your accountant. Its an investment worth making as if your approach is comprehensive you will have a lasting structure(s) in which to conduct your business(es) and life. "The reason free advice is free is because its no good"( Michael Caine). BTW That does not mean its wrong - its just no good.
0 Kudos
Som2
Contributor
0 Kudos