Total Members: 158,534

mj88

  • mj88 replied to the topic Loan for nonresidents in the forum Finance 12 years, 5 months ago

    I have  a friend who is in the process of permanent resident . He just finished degree in Aus , have a permanent job for 5 months. he wants to purchase an IP now, , is he qualified for an 80% loan. ( his wages is 50K pa)thanks for your advice

  • mj88 replied to the topic Need help with Finance in the forum Finance 13 years, 6 months ago

    thanks RichardI have no concern about cash flow to support new mortgage as I will receive compensation and finding new job is no problem at all. my concern is if the bank is to recall the loan, and if I have to rescind the contract, any penalty to the vendor even though the contract is subject to financethanks a lot

  • mj88 replied to the topic Need help with Finance in the forum Finance 13 years, 6 months ago

    hope somebody can help me with this question: I am looking to buy another IP under joint names with my wife, if the bank had given  me full financial approval but the property had not been settled and I lost my job before the settlement, will the bank recall the approval, and what would be the consequences in regards to the contract. thanks for…[Read more]

  • mj88 replied to the topic Renting trust-owned property back to myself??? in the forum another question regarding 14 years, 4 months ago

    another question regarding family trust please, my DFT has a corporate trustee, the trustee company has an ABN & TFN, do the DFT need an ABN and TFN for tax return? or it can be the same ABN & TFN as the company
    thanks
    Mj

  • mj88 replied to the topic Changing the Trustee name in a DT in the forum Legal & Accounting 14 years, 4 months ago

    Thanks again, TerryI only received tax return notice for company, not for the Trust. will the due date for lodgment  will be the same as the company 's ( 28th Feb 2010). cheersMJ

  • mj88 replied to the topic Changing the Trustee name in a DT in the forum Legal & Accounting 14 years, 4 months ago

    thank you very much Terry, MJ

  • mj88 replied to the topic Changing the Trustee name in a DT in the forum Legal & Accounting 14 years, 4 months ago

    Hi all it may be a silly question,  I set up a family trust last year tobuy 1 property, the trustee is company, so does the trust need to lodge a tax return? I Understand company can lodge nil tax return, thanks for all advicecheers

  • mj88 replied to the topic Renting trust-owned property back to myself??? in the forum Legal & Accounting 15 years, 5 months ago

    Terryw wrote:

    mj88 wrote:
    can anyone give my advice on this: I have my DFT with Company as trustee , the trust was stamped in NSW and now I am in process of buying a IP in Darwin under  this trust, my question is: do I have to get the trust stamped in NT. or I can buy property anywhere without worrying about stamping again in each statethanks…[Read more]

  • mj88 replied to the topic Renting trust-owned property back to myself??? in the forum Legal & Accounting 15 years, 5 months ago

    can anyone give my advice on this: I have my DFT with Company as trustee , the trust was stamped in NSW and now I am in process of buying a IP in Darwin under  this trust, my question is: do I have to get the trust stamped in NT. or I can buy property anywhere without worrying about stamping again in each statethanks heap for replyM

  • mj88 replied to the topic Renting trust-owned property back to myself??? in the forum Legal & Accounting 15 years, 6 months ago

    I am interested in this structure "gift and loan bak"can you please recommend any accountant specialise in this matter  , I have 3 IPs and my PPOR under my own name for tax minimization, just set up DFT for next IP. thanks a lotM

  • mj88 replied to the topic trust advice in the forum Legal & Accounting 15 years, 6 months ago

    I already stamped, and in process to get finance approve for 1st IP  in the trust. I think It should be simple and try to fix it in a cheaper way ratther go to a lawyer, I was advised the fee is from $900 just to look at the trust deed . so my question is if the appointer's name is not shown in the deed ( Ijust set up less then 2 weeks ago) , is…[Read more]

  • mj88 replied to the topic trust advice in the forum Legal & Accounting 15 years, 6 months ago

    Thanks Terry, it is a DFT, when I set it up through trustdeed.com website, I missed out the appointer . so the name of appointer was not shown on the deed. The corp trustee was appointed in the deed. I am just concerned if I leave it as it is now , any issues may incurr later. If I want to fix it, how do I do that.thanks heapM

mj88

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