Buying and selling US Land

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

 

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