[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

October 18, 2005 - 12:45 am

Good idea Amanda,
Put me on the list.
Bris

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

October 3, 2005 - 7:17 pm

Used to be in Burnside, east of Adelaide.
Now Bulimba , east of Brisbane.
Love both.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 29, 2005 - 7:14 pm

Just found out my accountant spoke c*ap !!!
1./In Qld land tax free threshold for Trusts, companies ect is 300K , NOT 50K as he told me yesterday.
2./ trust splitting does help reducing land tax . Found this from http://www.osr.qld.gov.au/practdir/landtax/lt07-1.pdf :
“
7. Where land (one parcel or more than one parcel) is held in the names of different trustees,
each for an identical group of beneficiaries:
Separate assessments for each trust. While various parcels of land may be aggregated for
assessment purposes if the beneficial ownership of each parcel is identical (refer s.3B – meaning of
“owner”), under s.43(b) of the Act, trustees must be assessed separately in respect of each distinct
trust for which they are acting.
Example:
A is the registered owner of parcel 1 and B is the registered owner of parcel 2. A holds parcel
1 as trustee for the Beaver Trust and B holds parcel 2 as trustee for the Bear Trust. Each
Trust has an identical set of beneficiaries.
– Separate assessments for each trust
“

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 29, 2005 - 6:18 am

Terryw I think I will.
My accountant in not very prop sawy…I have been looking for a better one in Bris but have not found one yet…(they seem to all be in Mel or Syd )
ta

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 29, 2005 - 2:15 am

Hi Terryw et all,
Just want to update that I have checked the “splitting of one disc trust into 2 ” with my accountant.
He said it won’t work as the land tax man knows to “regroup” the 2 sub-trusts and would calculate the landtax on top of the total value.
Also as I am in Bris, he said the tax free threshold in Qld for trust is very minimum for trust (about 50K or so). Hence even if it works the saving is not worth the trouble !!!

Has anyone tried done similar or has knowledge on this and could share their experience it would be appreciated.

Thanks very much.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 28, 2005 - 3:06 pm

I contacted Dale about two weeks ago he said he was not taking in any new client due to staff shortage. I hope that it was not a nice way to REFUSE ME !!!!
Even when saying he was too busy to take in new clients, he did respond to my query email very promptly, I was impressed.
Regards,

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 28, 2005 - 3:01 pm

Dazzling,
My question was along the line of “is my understanding of your point 1 correct” , not your advice on what I SHOULD do…..

Terryw,
No I did not know that the split was possible. I shall investigate ASAP as if can do, it would save me thousands each year.
Thanks very much for the tip.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

September 27, 2005 - 7:15 pm

Dazzling,
Regarding your “Point 1” can you confirm (or not) my understanding:
Currently I have 2 properties owned by the same Fam Trust and hence suffer from the compounding regime, huge land tax bill!!!
So to applying your point 1, if the trust sells 1% of one property to me then these two props are treated as having 2 different owner entities , and hence each gets its own land tax bill thus avoid the compounding regime ??
Is this correct ?
Thanks

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 19, 2005 - 1:32 pm

Richard,
I saw on Somersoft forum , there is this BIG (Bris Investor Group) that meets every month. Next one is 30 Aug, evening.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 17, 2005 - 9:07 pm

Hi 007 ,
I am interested in this Bris get together too, perhasp the details could be posted here or u send e an email please.
Regards,
T

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 15, 2005 - 4:45 am

Thank you Daniela & Jarrod.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 13, 2005 - 7:43 am

1./
Living in a nice house, nice clothes, driving nice cars, the wife does not “go to work” (the feminists please do not jump at my throat I know the housewives also WORK at home !!!) , family has lots of time togerther (seen going out together often….)
All those symptoms would give me the PERCEPTION that they are wealthy. How much money they have or whether they are up to their neck with debts i would not know. THey “look” wealthy though.
Do they think of themselves as being wealthy ? I don’t know.

2./ Purely money wise, I would say debt free PPOR, 100K per year passive income, no “bad” debt, but no huge good debt either (ie very low risk investment portfolio).

3./
As for me, I would declare myself wealthy when I could hire helpers to do ALL the housework without feeling guilty [biggrin]

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 13, 2005 - 5:45 am

Dazzling,
Saw the bank.
5.99 fix for 5 years with 1.5% service fee per year. That really means 7.5% per year in total doesn’t it ? not that great ???

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 11, 2005 - 7:03 pm

Hello Jules,
Yes that was the hardest loan we have ever had and it did work out very well for us. Our hard work plus a few “right decisions at the right time” have placed us in a quite confortable position now….
Cheers,

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 10, 2005 - 7:57 pm

Hi Caston,
In general the interview panel wants to know how you can add value to their organisation, how well you fit in to their team, and as things change quickly in the IT world they want to know if you are a keen and quick learner with a cando attitude. Do not tell them you why/how the job is good for you. IN ANSWERING ANY QUESTION ASKED, CONCENTRATE ON TELLING THEM WHY YOU ARE GOOD FOR THE JOB NOT HOW THE JOB IS GOOD FOR YOU. Also when a (usually large) company is serious about whom to hire and want s.o. for the long term, they are very interested in the attitude and ability to learn etc even more than the CURRENT technical skills the applicant has. AS the saying is “you can teach them technical skills but much harder to improve bad attitude”.Terms like “Work hard, not mind putting in the extra mile for a job well done, flexible, positive, can do…. ” are some keywords you should mention in the interview when appropriate)
I have been on interview panels for a lot of IT jobs hence the above is speaking from experience.
All the best angood luck with future interviews.

Regards,

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 10, 2005 - 11:45 am

Richard,
I have sent you an email.
Thanks.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 9, 2005 - 8:20 pm

Oshen,
You said
“Being soft and too generous is not fair on yourself. It’s also not fair on the other person because you are creating the opportunity for them to do the wrong thing. That’s why I say I don’t care about how much people complain, as long as I know that what I’m doing is right. Which of course it isn’t always, but it is what I aim for.”

You have earned my great respect (for what it’s worth ) just from those words above.

All the best.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 9, 2005 - 8:30 am

Not yet Dazzling, a friend mentioned that name and told me to ask for that type of loan, hence I want to do some research so that I know what to say/ask at the banker meeting this week.
Do you bank with NAB as well and did you have it for your last big IP ??

Thanks,

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 8, 2005 - 5:18 am

Dazzling,
When my son was 9 yrs old I was too busy to play a game of chess with him ( I still remember clearly his disappointed face when he kept “pestering” me to play with him, but I had 1001 other things to do (including wealth creation) and hence said “no”…).

He is now a young adult and HE DOES NOT HAVE TIME to play a game of chess with me when asked. I have offered to take him to a long round the world trip with us, now that I can afford it, BUT HE DOES NOT HAVE TIME to go or if he did, he would want to go with his mates, not with the parents..

Guess sometimes after I died , my son may re-think and wish he did play chess and did go to the round-the-world trip with me…just like I do now, so wish I had played chess with him more often , taken him to the local park more than I did…. Such as life….

You are lucky that you still have time , you kids are still young, even till 2007.
Look like you could also eat your cake while having it…

All the bests.

[Bris4171Participant@bris4171Join Date: 2002Post Count: 29]

August 8, 2005 - 4:30 am

Coreyjay,
I read my previous post again and thought it sounded a bit negative about Ben. So just want to clarify that I did not mean Ben would not be able to help you or others …..only my situation he could not do much and he clearly said so.
I intend to see Ben again in the very near future.
regards,