Real Estate / TAG Property (J)
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Real Estate / TAG Property (J)
Alan Lips of Gerson Preston Klein Lips Eisenberg Gelber (Florida, USA) has been quoted in a recent article by The Real Deal entitled "Hurricanes may buffer South Florida from Trump’s new tariffs, experts say". Below is an excerpt from the article.
"Hurricanes may have protected the South Florida construction industry from feeling the full force of President Trump’s new import taxes. The president’s newly announced tariffs on imported steel and aluminum are not expected to have much impact on the local construction industry because in order to withstand hurricane-force winds, local developers say, structures are primarily built with concrete and domestic rebar."
Contact: Vincent Altieri, CPA, and Eric Huynh, CPA
If you don’t believe in evolution, stay out of the New York office rental market. In today’s market, the needs and demands of potential renters are changing at a faster pace than ever before. Add this to the fact that the office market is also beginning to evolve from being landlord-driven to tenant-driven, it’s a market full of challenges, but one that is also ripe with opportunities.
Who are they and where are they going?
We are in a great transition period where the Baby Boomer generation, while remaining very active and often still in decision-making roles, is passing the torch to the new Millennial generation. Each group may have different ideas about what they expect from the space they are considering. Millennials tend to look for greater flexibility, functionality, and responsiveness from their office. Boomers might look for more traditional amenities, such as a prestigious address or plush interiors. In short, know thy audience.
A key benefit of establishing and operating a Self Managed Superannuation Fund (“SMSF”) is the ability to acquire overseas property through the fund. This can occur either by an outright purchase by the SMSF trustee or by borrowing using a limited recourse borrowing arrangement (LRBA).
There are however a number of considerations SMSF holders should take into account before embarking on overseas property investment, both for outright purchase of property and investment with borrowings.
By: Alison Palmer
Individuals who are domiciled outside the UK will be aware that their exposure to UK Inheritance Tax (IHT) is limited to their UK assets. Any foreign assets owned by foreign domiciliaries remain outside the scope of UK IHT until the individual becomes deemed domiciled (broadly once they have been resident in the UK in more than 15 out of the previous 20 tax years, under new rules being introduced next year).
Lisa Spearman, Private Client Partner, considers the key points of the CGT regime as now extended to non residents owning property in the UK.
Many other countries charge tax on the basis of where a property is located rather than where the owner is resident, and it is therefore not altogether surprising that the UK has followed suit.