Can anyone advise which would be best in terms of tax effciency:
1. Sell commercial property-circa 170k EUR
2. Rent it out-expected rental income 20-22k EUR
I have been advised by a few estate agents that commercial property could rise in value over next few years but of course there is no guarantee so advice taken with due consideration of opportunity cost if I wait for a few years.
I pay very little income tax (work part time) if this impacts the above in any way.
I am thinking if adding title to the property to spouse/ children would help minimise any tax liable/gifting property.
Any advice would be much appreciated.
1. Sell commercial property-circa 170k EUR
2. Rent it out-expected rental income 20-22k EUR
I have been advised by a few estate agents that commercial property could rise in value over next few years but of course there is no guarantee so advice taken with due consideration of opportunity cost if I wait for a few years.
I pay very little income tax (work part time) if this impacts the above in any way.
I am thinking if adding title to the property to spouse/ children would help minimise any tax liable/gifting property.
Any advice would be much appreciated.