Home Transferred from Family Trust to Company

Question

My client is dissolving his Trust and transferring all assets (via him and his wife) to a company structure. Included in the assets is the family home. As long as no costs associated with the home are claimed for tax purposes is there any issue with the home being owned by the company?

Answer

There is no issue with the home being owned by the company as long as no private expenses are included within the tax deductible expenses.