NAB can go up to 95% LVR up to $2million from memory.

in NSW most trusts don't get any land tax free threshold.

"Exceptions" for fixed trusts, SMSFs and deceased estates.

Depends on what you mean by 'business' and how things are structured.

If you personally go bankrupt all the property you own is at risk. The trustee in bankruptcy stands in your shoes and 'is; you. They sell your property and use this money to pay creditors.

Property = shares, units in unit trusts, land etc. But not property held on trust for…[Read more]

in that you have to imagine, if you were to go bankrupt at some point in the future what assets would be at risk

DEVILZ wrote:
thanks.

all comments make sense

but what if in the future I decide to sell one IP which has a lot of equity? in this case if I increase LVR to max and transfer equity to another IP I will save on CGT. Is it right ?

and another point why I want to do this: That IP is in mining town so it can drop value at some stage (maybe not)…[Read more]

Derek wrote:

Terryw wrote:

for family law matters celibacy

Geez Terry – I cannot see many clients lining up and paying fees for that piece of advice.

I charge $500 for the asset protection chastity belt or $1000 if you want the key as well.

Asset protection against what?

Generally:
For trading entities a Pty Ltd company
for bankruptcy a discretionary trust and SMSF fund
for family law matters celibacy
for death, depends.

Structure is only one part of asset protection. The rest depends on how transactions are conducted and the internal set ups – terms of the trust etc.

Yes, no change to taxation for 2 reasons
1. Purpose of the loan determines deductibility, not securty, and

2. Same owner so a negative on one offsets a loss on the other.

Coota,

I do some consulting work with them and they seem to charge by the job rather than the hour for most things. Send them an email for an approx cost, or send me an email and I can find out.

You can both claim expenses in proportion of ownership

ry House of Wealth.

Not sure if they are north south east or west

Gemma Lea wrote:

2) Research – Discretionary Trusts (aka family trusts) and having a company as trustee for greater asset protection. Also helps if you have brothers or sisters over 18 earning a low wage (you can give them income earned in the family trust). Accountants would be good to speak to about this.

Accountants shouldn't give…[Read more]

Why is it bettter to get in your own name? Sounds like you are jumping to conclusions prematurely.

5. Just fill in the form and lodge at the land titles office and pay hte fee.

A credit card is a loan. So if you are refinancing the credit card debt with the LOC borrowings the deductibility won't change.

I hope you are not having salary etc deposited into the Viridian?

Tom,

2. Asset protection from what?
3. No, Australia totally different to US

And don't forget to add land tax to your calculations, especially if using a discretionary trust.

Daneo79 wrote:
OK. I know what you mean. I wapprebe setting it up under a discretionary trust structure, so changes things a bit. My (back of envelope) calcs. include man. fees, settlement/purchase costs, insurance, rough rates guess, connections, ect..

But that is off topic.
Can I just knock on the door and ask the tenant if they would like to…[Read more]

pav007 wrote:
If you happened to bump into the real property owners whose house is about to be possessed. Can you buy it of that owner before it gets possessed.

If a house gets possessed by the Bank, does the Bank put a mark on the owners credit like a default or Bankruptcy something?

Yes, a loan default and a judgment.

Bruce – this is def wrong. You cannot benefit from Artwork in your SMSF. It would have to be stored away from where you could look at it. Enjoying it would breach the sole purpose test – which is to provide for the retirement of the members, not the enjoyment before retirement.