Selling property

[applemac8]

When "selling" property to a newly formed business do I need to pay sales tax?

[francinemelbour]

No matter what business it is new or old you still have to pay taxes.

[Bronwyn]

If you are talking about selling your property to another entity then there will be a change in beneficial ownership (even if the business is owned by a company or trust owned by you), so yes, you will have to pay stamp duty. If this property is not your PPOR you will also have to pay CGT too. I assume you are thinking of doing this for asset protection purposes, but these are substantial costs so you should definitely talk to an accountant to see if the benefits justify such a huge outlay.

[R3aLEstat3]

Yeah, almost all property we sell, we need to pay tax for it

[proptyman]

Yeah, almost all property we sell, we need to pay tax for it

yes, remember the two sure things of life are death and taxes.... so yes you will need to pay taxes. that's why it is always best to hold onto your property if possible, then you are not liable to pay these taxes!

Regards
Peter S (propman117@gmail.com)
High Rent Return Properties - http://www.ozpropertyinvest.com/hy/2022.html

[jemstoky]

The real estate industry, many vendors fail to attract potential buyers, mainly due to the fact that they are not aware of the basic requirements for selling a property, a property has become a task legally.Selling difficult for owners like you, because the right to find a potential buyer to finalize the sales contract, you must do your homework in order to reach a favorable agreement.

[nargosmith]

Selling your home can be a nail biting experience.It the moving most of us do once or twice in a lifetime so it pays to do your homework make sure first.To make money you need to do your research and understand some key concepts behind adding value to the property.

[Macain123]

Yeh when we sell property and pay tax to government . Other wise you theft the tax and loss to country. In every country different laws are implemented and there is different tax rate.

[hassan]

Every country terms and condition is very different another country, At this time in the local country no one person pay, when he buy a new house in any one location.

[jbocker]

When "selling" property to a newly formed business do I need to pay sales tax?







Not sure what applies in Australia with respect to GST - I imagine it would depend on the type of property, whether a company owns it, who built it and owns it. Certainly a few questions to ask your business tax accountant.

[denial011]

Hi every one,

"hassan" i don't know what do you mean by local country but each buy and sale you have to pay tax and its mandatory, without tax its not possible. When you buy or sell your property Govt office record the whole data so no way to skip tax process.

[DainaE]

Of course you'll have to pay taxes when selling a property...

[matthewa]

yeah you do have to pay taxes to the government. It's an annoying, but typical part of selling properties and investing.

[Charlotte Wilson]

Definitely, whenever you sell a property you need to pay taxes. And that is what I always do when I sell a property in Canberra, i guess its the responsibility of the seller to pay their taxes.

[gfere40]

Hi there,
I would agree with Hassan, that every country has different conditions.


Every country terms and condition is very different another country, At this time in the local country no one person pay, when he buy a new house in any one location.