Hi Kimberly, Thanks for uploading knowledgeable video. Could you please clarify my understanding. Co A is owned 100 % by MR X Co B is owned 50 % by Mr X and 50 % by Mrs Y. No commercial association. As per my understanding there is no association in between Co A and Co B. Am I correct?
Hi Kimberly, interesting and thanks for explaining this. To check that I've understood correctly: property company A is 100% owned by Mr X, property company B is 50% owned by Mr X and 50% owned by Ms Y. I don't think that these companies are associated?
They would not be as owned by different groups of persons. The only consideration would be if there is substantial commercial interdependence between the two companies and it that is the case then it would make them associated. If they are just investment companies then the hope would be there is no linking so there is no association for tax purposes.
Hi Kimberly,
Thanks for uploading knowledgeable video.
Could you please clarify my understanding.
Co A is owned 100 % by MR X
Co B is owned 50 % by Mr X and 50 % by Mrs Y.
No commercial association.
As per my understanding there is no association in between Co A and Co B. Am I correct?
I can confirm that they will not be associated. If Mr X had 51% then they would be associated.
Hi Kimberly, interesting and thanks for explaining this. To check that I've understood correctly: property company A is 100% owned by Mr X, property company B is 50% owned by Mr X and 50% owned by Ms Y. I don't think that these companies are associated?
They would not be as owned by different groups of persons. The only consideration would be if there is substantial commercial interdependence between the two companies and it that is the case then it would make them associated. If they are just investment companies then the hope would be there is no linking so there is no association for tax purposes.