Don’t Forget This When Incorporating!
Episode description
Shaz continues to share great advice about incorporating and explains what to do around personal loans and the best way to incorporate
Listen in and find out more
KEY TAKEAWAYS
- Under section 162 Incorporation tax relief you can move5 or more properties from your own name into the company when you incorporate
- If 2 or more people own the properties you can incorporate and not pay stamp duty land tax if you meet the criteria
- When you change the loan document details to the company no money is actually changing hands
- You can’t move properties individually it has to be all of them
- If you have property rental losses in your name don’t incorporate until you’ve used up the losses
BEST MOMENTS
‘You can’t move properties piecemeal it’s all or nothing
‘Most lenders will entertain it’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of
income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: