Efficient Tax Credit
October 16th, 2009
Question: Most tax efficient way of transfering assets?
I own two unecumbered commercial properties. I bought them in 1990 for my sister, whos businesses use them. She couldnt take out the loans herself due to credit issues so i did it in my name.
I now want her to take ownership of the properties.
What is the most tax efficient way of transfering ownership to her?
Answer: Well tell me what your choices are and I’ll answer the question.
1. Gift.
2. Sale.
In both cases the CGT will be based on the market value, as it’s not an arms length transaction.
You can’t influence the CGT outcome.
But…….
If you give the property away, you end up with the tax bill and no cash!
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