Hi
I am a 40% tax payer and would like to pass my rental property to my 2 young children for tax saving reasons.
Can you see any advantage and if so is a trust recommended?
thnks
Passing property to children
2 posts • Page 1 of 1
Passing property to children
by cal1607 on Fri Jul 01, 2011 10:27 am
- cal1607
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Re: Passing property to children
by section 44 on Fri Jul 01, 2011 11:22 am
cal1607 wrote:is a trust recommended
A minor cannot own real property. A trust would be the only way of doing this. There would appear to be a settlement meaning that the income would be taxable on you under s. 629 ITTOIA 2005.
- section 44
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- Joined: Thu Oct 30, 2008 12:47 pm
2 posts • Page 1 of 1
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