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Buying and selling US Land

Discussion in 'Buying Overseas Property' started by lane, Sep 23, 2006.

  1. lane

    lane New Member

    Hi there,

    Can anyone inform me of the CGT implications of selling land in the US as an Australian citizen and resident (i.e. would I need to pay double CGT?) Also if I were to sell US land to US citizens, is it as simple as transferring title by sending warranty deed papers?

    Thanks for any help
     
  2. logan

    logan New Member

    Hello Lane ,
    We have a double tax treaty with the US so you will not have to pay tax twice, unless you buy it though a C corp. You might be better to set up an LLC to own the land. But every individual's situation is different.

    I'm buying land in the USA at the moment, I can share the way I?m structuring it but just because it?s the best thing for me doesn't mean its best thing for you???
    Thanks
     
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