That is longer than the life of a trust and the live of anyone buying!

Yes, lawyers can take interstate clients. I wouldn't do conveyancing interstate though as the proceedures vary from state to state.

wilko1 wrote:
Just sign it and or nominee and get your solicitor or conveyancer to nominate which company/trust you select.  That way it's also their fault for any wording errors.   

Get some legal advice first.
This could result in paying stamp duty twice in some states, especially if the trust is not in existance at the date of contract.…

Yes, really there is no need to document the trust at all. But it may be a good idea to put XX ATF YYY.

Usually date of contract for the purchase of the land.

I've been approached by a forum member to fix a trust he set up incorrectly. Property already purchased so it would take around $5k in legal fees to fix this particular problem with all the loans being redone. Past tax mistakes unable to be fixed.

A trust could be set up within a hour, but you really need time to seek legal advice (from a…[Read more]

If it was first used as a main residence then two options
1. Keep it as your main residence while renting out, temp absence rules. s118_145 ITAA 1997
or
2. s118-192 ITAA 1997 first use to produce income.
” (2) You are taken to have * acquired the * dwelling or your * ownership interest at the income time for its * market value at that…[Read more]

suzanneperth wrote:
Does anyone know of lenders who will lend to a trust where the beneficiaries have bad credit but the trust is good and can put a sizable deposit down?  

Yes, all lenders that lend to trusts. As long as the trustee or director of the trustee is clean. This is for discretionary trusts. Unit trusts may be a bit harder, but can…[Read more]

Someone could park cars there maybe?

Be prepared for a low valuation for new off the plan type propertie.

You need to calculate the cost base. Cost of land and materials, stamp duty etc, Market value wouldn't come into it.

This is unusual. Is it near Manly in Sydney?

How many years on the lease left?

You have to be careful with leases with commercial.

Had a friend who purchased a property with a nice lease in place. A few weeks after settlement the company leasing was placed into administration. It turns out they were connected to the company selling the property. ie the company owner.

That sounsd good. Can Carbon Dioxide be used for anything useful?

ignoblis wrote:
I've been reading a lot of good info on this site regarding redraw tax implications but still having trouble getting to grips with it all.

I have a 400k loan with 100k available to redraw. I'm hoping to redraw these funds in the future to purchase another property which would initially be a PPOR before turning it into a IP in…[Read more]

Thanks Vic

A private financier. I was just listening to some Rick Otten podcasts about this.

No you cannot transfer equity like that.

If the property is in VIC you could possibly sell it to your spouse for no stamp duty. if NSW full stamp duty would apply. But it may still be worth at as your spouse could borrow 100% and then claim the interest.

On a loan $400,000 that would amount to another $24,000 pa in tax deductions (approx).

Cradle wrote:
Thanks Terry. 

I will give that a go. My concern is that all the chumps in the real estate industry tend to look out for their own so it is doubtful. If they will act against the interests of their members. 

They do it all the time – ie act on shonks. Not sure what powers they have though.

If house in VIC one party can sell to the other party at full market value. Probably no stamp duty, and no CGT. Just legals and new loan fees. This will enable you to claim the interest on a loan to half of the value of the house

Of course you have the right to modify the contract and you should not be taking legal advice from a real estate agent, especially one who acts for the otherside. You have just been conned..