Yes it does. You may be exposed to Donations Tax at 20% unless you structure it differently. There may be CGT considerations also if values moved up over time
This may be difficult. The trust may need to be creditworthy in its own right then it applies for a new bond to "buy" the asset from you. Other than that i dont think so. Do tell if you also find a way around it also. 🙂
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Does moving properties from personal name to trust or company name have tax implications?
Yes it does. You may be exposed to Donations Tax at 20% unless you structure it differently. There may be CGT considerations also if values moved up over time
@@lesterm007Eish that's bad. I want to move my properties into a trust but it seems it is much more expensive to do it than I anticipated
Can you move properties that are still under the bond with a bank that obtain using your personal name?
This may be difficult. The trust may need to be creditworthy in its own right then it applies for a new bond to "buy" the asset from you. Other than that i dont think so. Do tell if you also find a way around it also. 🙂
Mr Mothiba, do you do coaching or mentorship and how do I get hold of you?
Yes, I do. Send me WhatsApp 074 589 64 39
My dad wants to transfer his paid up property into a trust fund, what are the steps?
Please WhatsApp me 074 589 64 39