Today's guest was tax expert and charted account Jaques De Villers from JD V Charted Accountants. We briefly discussed the various vehicles for owning property in. With so many options such as CCs, PTY (Ltd), Trusts and in your personal capacity what is the most tax efficient vehicle to purchase a property in?
Jaques De Villers emphasized that it is not a case of "one glove fits all" but every one needs to get expert advice before making a decision as it's costs a lot to undo a decision once it is made. However there was consensus that if one was planning to buy a residential property as a primary residence that it would be more cost effective to purchase it one's personal capacity. And when it comes to other property purchases such as commercial and or industrial property trusts are the most efficient vehicle. Jaque also noted that people should review their property structures as SARS is giving the public a once off chance to amend their property structures by been able to transfer their properties out of CC's, Pty's and Trusts free of transfer fees and capital gains tax until early 2010.
Get advice contact Jaque Devillers on 021 880 7070
Also don't forget to take part in the poll and you could be in line to win R1000,00 worth of unit trusts.
