littlelot wrote:
All I need to do is join my funds with the SMSF funds and then obtain a bank loan for the balance and then structure it to appease the ATO.  sounds complicated

Not that simple. You shouldn’t mix trust funds with non trust funds – a SMSF is a trust. You could be breaching your trustee duties.

You would have to borrow using…[Read more]

It can be done but the hotel cannot he used a security.

s0805 wrote:
can't avoid this fees anyway< .

Are you saying you cannot afford $15.80?

Why would you want to go to them?

TheOoz wrote:
So I've done quite a bit of reading, and I like the idea of a trust structure. I'm now looking to start building my 'team' so am seeking recommendations on who to talk to about my specific situation and setting up a trust/s.

I'm currently based in Western Sydney, but likely to move to Melbourne in the coming months. I'm good with…[Read more]

Jeremiah17 wrote:
After attending a one on one strategy planning with ironfish i asked the question of the trust structure because i just finished reading steve mcknight's book. I have been told that i can't claim tax if i purchase a negatively property because the trust does not earn income for me to claim tax on.

A trust is treated as a…[Read more]

Consider the tax consequences also. You would probably become a non resident for tax purposes.

a few of my clients have done this. Buy a house with a large block of land. Split the land so that they end up with one empty block and one smaller block with the original house. One guy got the original house valued at almost the same as his purchase price meaning he basically got the block of land for free. He will sell the new empty block and…[Read more]

That is a large sum of money. You should consider some asset protection and tax strategies.

Also the offset account is worth having, especially on the PPOR.

Generally best to avoid mortgage managers. They are just rebadging other peoples products and all loans are usually subject to LMI regardless of LVR. This can severely hinder your borrowing goals. Also they often go out of business and it can be very hard finding someone to speak to after that. eg. a client of mine sold a property, i couldn't…[Read more]

Thats a large weekly shortfall.

Will be interesting to see how this pans out.

Sounds very suss.

Get a property valued at $390,000 and put it on the web for $490,000 then give a 'discount'.

Is the uncle using other property as additional security? If so then he may not realise if the valuation comes in low.

mjb1023 wrote:
No, is this forums only for Australia?

No, but I was just wondering which country it is in as you didn’t specify.

is Pennsylvania in Australia?

S32 only applies in VIC.

Yes. You will need a valid contract of sale at the time of the option. You need to know what you are agreeing to when the time comes to exercise.

Just looked it up in a map.

Man, be careful.

Only lawyers can give legal advice.

95% loans are hard enough under normal circumstances. I would say it is unlikely you would be approved if you borrow the deposit.

You forgot to mention lawyers – A trust is nothing but a bunch of legal obligations.

Seems like you are only considering income tax. What about land tax, asset protection, estate planning, succession issues etc.

Trusts generally do not pay tax, but the money flows through to one or more beneficiaries who then pay tax on this income. You could…[Read more]

Yes, this is relatively simple. Just a written loan agreement should do. Doesn’t have to be at a commercial rate, could be nil interest.