Microlighters

What would be the best way to register an aircraftwith two (2) partners in it?

Should you do it in both individuals names? or rather in a CC? or a PTY?
What is the advantages of going the CC or PTY route? maybe VAT? tax?

What about putting it in a Trust? or how does the "Partnership" registration work?

Does anyone know which of these options will be the safest and the cost of the various options?

Regards

My suggestion would be pty ltd.

If you have an existing CC, you can use it, but you cannot register new CC's anymore. In law, pty ltd and cc's have the same functionality.

Be careful with trusts. A trust is useful for personal use, and the only real advantage is on death taxes. Soon you will also not be able to register trust, as it is being phased out as well.

Advantages above putting it in your own name: Why would you put your property through the risk of being taken back if your partner is sequestrated.

Cost options is about the same. SARS will have less of an issue with a VAT registration on a pty ltd, but you need to make sure it is for purposes of a business prospect. If the company is not going to make a profit, you will need to explain why you want the benifits of claiming vat but not paying anything to them.

Hope this help.

it definately helps!

Any idea of the cost of a pty? (Can you also buy it off the shelf?)

Talk to you accountant/book keeper. They may still have a shelf CC lying around, else they can get you a PTY Ltd. (They have to sign as auditors in anycase.)