A related party property transfer occurs when an owner or their family member transfers ownership of a property. The transaction can be subject to various costs such as stamp duty (unless a concession or exemption applies) and bank fees. It is important that a property valuation report from a registered property valuer be obtained to determine the correct stamp duty payable. If the property has a mortgage attached, a discharge of the existing mortgage will be required to complete the transaction. Various other legal and conveyancing costs such as lawyer’s fees, title registration and lodgement fees should also be taken into account.

What qualifies as a related party transaction?

It is common for people to exchange properties with their family members. The Internal Revenue Service has recently clarified its position on this type of exchange in Revenue Ruling 2002-83. Basically, the IRS does not want taxpayers to purchase replacement property from related parties as this creates a great opportunity for tax abuse.

The term “related party” is defined in IRC Sections 267(b) and 707(b). It includes siblings (including half siblings), spouses, ancestors and lineal descendants. It also includes entities such as partnerships, limited liability companies and corporations in which the taxpayer owns more than 50% of the stock, membership interests or partnership profits interest. However, it does not include aunts, uncles, in-laws, nieces or nephews.

It is possible to exchange properties with relatives as long as the taxpayer holds the relinquished property for a minimum of two years and acquires like-kind replacement property from non-related parties. However, it is still important to consider the ramifications of the transaction and to consult with your tax advisor.

Invest in a solexx greenhouse kits to extend your growing season and help your plants become stronger, healthier and larger. Designed for home gardeners and commercial nurseries, solexx greenhouses are durable, energy efficient and easy to assemble.

The twin-wall insulated panels let in evenly diffused sunlight enhancing plant growth and improving plant health. Solexx panels have an R-Value of 7 and a U-Value of 3. This is significantly higher than polycarbonate and double that of glass. The flutes in the plastic also promote air flow and reduce condensation that can be a problem with some other greenhouse coverings.

Solexx Greenhouse Kits: Durability and Efficiency for Year-Round Growing

Solexx panels are treated with a double UV inhibitor during the extrusion process and have a 10 year limited warranty against ultraviolet breakdown. They are easy to clean and do not scratch like polycarbonate. They are safe for children to touch and do not contain BPA’s found in polycarbonate.

All Solexx models are freestanding and do not require site preparation or a special foundation, and assemble easily with simple tools. They are made of a pultruded composite material that is strong and has the look of steel, but will not rust. They are white in color, allowing more light to penetrate the greenhouse.

The base of each greenhouse is fitted with a door for ground up ventilation and a vent that closes automatically in response to temperature changes (no electricity required). A recommended accessory is the ventilating system from Schaefer Ventilation which includes a motorized exhaust louver vent (8″ vent, 760 CFM) with thermostat, wiring and mounting kit and a circulation fan.

Road marking companies make important contributions to safety by ensuring that drivers are aware of their driving environment. They can help keep motorists on the right track, especially during night-time travel. These firms work on various projects, from high-traffic freeways to airport runways. The industry is large and growing. Raw materials manufacturers and coatings suppliers are constantly innovating to meet the needs of this demanding market.

The market for road marking materials has grown significantly in recent years. This is due to a number of factors, including improved road safety regulations and maintenance and refurbishment projects. In addition, technological advancements in the field of road marking materials are helping to drive the industry’s growth.

On the Road Again: Exploring Road Marking Companies

When selecting a road marking company for your project, consider whether they are members of the Road Safety Markings Association (RSMA). This shows that they have a commitment to using high-quality products and won’t cut corners in their construction. In addition, a member of the RSMA is more likely to follow strict health and safety guidelines.

Various types of paint are used for road line striping, including solvent-based, water and two-component epoxy. The most common type is hot melt thermoplastics, which provide long-term retention superior brightness and continuous reflective ability. These are the preferred choices for highways, which require high standards of marking construction. Other options include cold plastics and two-component pavement marking paints. Some states have VOC restrictions that require the use of low-VOC formulations. Biorenewable paints are also available, which contain significant amounts of renewable material and can be used in VOC-restricted areas.