i am in Japan now – 8% GST on goods is not easy to calculate and most things seem to be GST excluded on the market price.

I don’t think it will have much of an effect, initially it may be a bit of a shock but once people are used to it they won’t feel it.

Yes, many things to consider:
1. Stamp duty now and later
2. tax – income, CGT, small business concessions
3. land tax
4. assset protection
5. flexibility
6. control
7. finance
8. death/incapacity
etc
 
in adddtion to trust structures consider a SMSF too.
 

Yes many issues as Andrew points out.
If it is a trading company this is dangerous.
Stamp duty at market rates.
Who owns the shares? and asset protection.
Land tax – possibly not exempt.
No 50% CGT discount.
Will you be paying market rent?
Possible FBT issues.
Paying for renovations won’t mean a full deduction as this will be a capital…[Read more]

 
There are strategies to increase deductions. Since this is an investment property if you put down $50k of cash and then in a few years you buy a PPOR then that is $50k less cash you will have and therefore 5% x $50 = $2500 less tax deductions each year. Over a 30 year period this amounts to a huge amount – think of if you saved $1000 in tax…[Read more]

 
I’ve never heard of this before!
 
You should get some tax advice as there are many isssues and you have left out many things. It might be better to transfer now before developing, depending on a few things.

Yes. You can only claim your ownership share of the expenses. ie if you own 30% then you could claim 30% of the bills. Your family member would essentially be renting your 30% of the property from you and for you to claim the full 30% of the bills you will need to charge the family member market rent.
 
Consider estate planning too – what happens…[Read more]

I don’t think these expenses will be deductibe against income as the property wasn’t available for rent. They may be capital expenses and could be used to reduce CGT in the future so keep good records.

Yes that is how I do (or did it) Jamie. I want to come on and see what posts have been made since my last visit – like a ‘active topics’ button. It takes too long to look through each different forum to find them now.

Carl, sounds like a great business idea. But I doubt you will be able to find finance as it would be too risky for the lender.
 
Do you personnally own any property at all? Does the company own the buildings you operate fomr? ANZ can go up to 100% LVR for commercial loans in some cases.
 
As for a private investor you could sell shares in the…[Read more]

It could be, depending on the circumstanes.

Twistiswit why is it crazy? You still need to show you can service the loan and without other income you may not meet the requiremets.
 
As a lawyer and mortgage broker I must say I agree with Jamie. No 3 is not correct. I set up trusts and clients are able to get finance with a brand new structure without any history with no problems – if you…[Read more]

What is MUD? Multiple Unit Development?
 
Presales is only one aspect, you will also need to meet other requirements. They will look at experience, history, credit report, valuation etc etc.

Dangerous to comment when you don’t know the answer!
 
Gifting will result in being taxed in 2 ways.
1. CGT will be assessed on market value
2. Stamp duty will be assessed on market value
 
I don’t know when this wasn’t ever the case.
 
There are ways to structure things so that no stamp duty or CGT will be incurred and that is to purchase in as…[Read more]

Sounds like you want an investor to come in somehow to enable you to get finance – what sort of security will the investor have. Will there be change of shareholdings in your company? If so what are the stamp duty, CGT, and other consequences.
 
If you are operating as a sole trader how could this work at all, what would they be…[Read more]

As I mentioned on somersoft there a many different implications as to which name you buy in. far reaching conseequences which you may not be thinking of. Changing things later will be costly and have further consequences.
 
You should speak to a solicitor rather than an accountant and you should also speak to a broker regarding the loan…[Read more]

Hi Neil
 
I am a solicitor and have done options myself before. It sounds easy, but it is very difficult to get someone to agree to enter an option agreement in general and even harder to get them to accept your terms.
 
For an option agreement and legal advice you would be looking at around $2k. A contract of sale needs to be prepared and…[Read more]

 
Why not borrow the full amount plus stamp duty – say another 80k. Paying cash could mean you are missing out on an exxtra deduction of $80k x 5% =$4000 per year for 30 plus years..

Generally no exemptions of stamp duty or cgt for transfers between parents and children – other than at death.

A lender would allow individual loans, but the other owners of the loan would have to guarantee these loans. Which essentially means they same thing – if one doesn’t pay the other 3 are liable.

Steve, would be good to have an active topics button so we can come in and see all the new posts since last time.
 
I also received a few updates of someone mentioning me in a post – including myself, but when I looked these were posts from 2013.
 
Overall appearance of the site looks good I think. Like the colour. The font was a bit small but…[Read more]