Total Members: 155,796

ekghmg

  • I am with CBA with corporate trustee. Rate = same as my personal discounted rate. Might depend on the venture you are trying to fund, ie developments etc ‘may’ fall into business lending which will have a different rate.

    It was challenging to get it all set up, but I went through a broker so wasn’t really my challenge, I just heard all the…[Read more]

  • Thanks, can you also find out how much additional work he has to perform once it is there (ie what the company is not doing)

    Thanks – Eamon

  • Have a chat with your accountant, but you may find that sub a thing could be treated as a asset as it is essentially a future income tax benefit, ie depending on how you accounted for the car some of the interest may be claimable as a deduction against your tax.

    Too many variables to give a categoric answer so best to confirm with your accoutant…[Read more]

  • Hi all,

    This has been a great thread. The only query I have and would like to understand relating to Nathan’s post is, when you go and draw back on the equity and take your original capital back, mathematically the property is no longer a positive Cashflow property, ie income = 15,000 (300×50 weeks) and just finance cost is 15,120 (240,000 x…[Read more]

  • I personally use myob business basics for my private finances (potentially overkill) and my trust with corporate trustee. I have not gone too deep into the standard reports and prefer to dump the trial balance to a spreadsheet/pivot table style management reporting tool I created when I was working for a company that didn’t have very advanced…[Read more]

  • Thanks Richard,I have set up a standard interest only loan in the name of the corporate trustee secured against one of my other properties (in my own name) effectively accessing the equity built up in that property.  I have been stung with a negligible  "vetting fee" from CBA to review my off the shelf deeds, a bit annoying but I am getting the s…[Read more]

  • Thanks for your comments – it has certainly added some food for thought.

    Cheers – EKG

ekghmg

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