I say do the sums and work it out.

Selling and then using the funds will assist in reducing your non deductible debt considerably. CGT could be avoided on the main residence probably so just agents fees and legals. Work out CGT on the other and then work out total costs of selling and how much money you will save in non deductible interest…[Read more]

Thanks Jamie.

With property it is best to use a lawyer from the state you are buying in. I wouldn't act for a property matter in SA as I am not familiar with state laws there or the procedures etc.

I don't know how you should choose your lawyer, but someone with a experience in the area you want to focus on – area as in topic. You can also look…[Read more]

Cross collateralising is when you use 2 properties as collateral for the one loan.

JimmySprinkles wrote:

 We are not planning on needing to  borrowing any money.What are some of the main reasons that the people you talk of have failed in this set-up.What implications would a 10 man trust set up have on personal borrowing capacity.Cheers.

Coordination 10 people is hard. Have you ever tried to organise a group of 4 to…[Read more]

JimmySprinkles wrote:

    Im fine with most of the situations you state.What is it you talk about the 50% CGT discount..

Company pay a flat rate of 30% tax. Individuals get a 50% discount on capital gains for assets held longer than 12 months so would pay a max of 24% CGT.

JimmySprinkles wrote:

        Thanks very much Terryw.At a guess If we had ten guys all on around 60 thousand gross per year,would a company opened up with the same ten names have much income tax return issues or implications on there personal tax returns.Thanks heaps. 

Heaps of issues but income tax probably won't be much of an…[Read more]

PaulDobson wrote:
Hi gags

I've been told that it's illegal to give an undischarged bankrupt credit.  I don't know if this is factually correct but we've always taken it as correct.  This has left us with the option of selling the undischarged bankrupt a property with a Lease/Option (not a credit contract) but, the time involved to have the…[Read more]

JimmySprinkles wrote:

       Hi guys I've just joined the forum and I have a question.Me and 9 yes 9 other people want to start investing in property in a trust situation.Buying a new property once a year then in a few years twice a year and so on till we are getting 5 a year.If we do this in something like a family trust e.t.c will there be…[Read more]

JimmySprinkles wrote:

Terryw wrote:
Consider
– death
– divorce
– bankruptucy
– withdrawing from the investment
– stamp duty
– borrowing ability
– guarantees
– effect on future borrowings for individuals
– land tax
– cgt

Probably the most flexible structure is a unit trust with a corporate trustee. But the structure within the structure would…[Read more]

next move would be to speak to your tax advisor. and keep detailed records

Yes, you could possibly claim the costs of the demolition either upfront or as part of CGT calculations, reduing cost base
and write off the carport materials in some instances

I dont' know if annullment means void from the begining or not. If it did it would be like the bankruptcy never happened.

Yes, but there is always hope of an annulment if they can conjure up some money.

And look at the contract carefully.

You should get some advice as if you stuff it up you will lose a big amount.

There is only one type – bankruptcy!

If you become bankrupt this generally lasts 3 years. It can be extended if you do not cooperate with the trustee in bankrupcy or try to hide assets etc. Once this period is over you are discharged.

During bankruptcy you can often negotiate an annulment. This is often done by making an offer to creditors to…[Read more]

I don't think there will be a change either.

What time does it come out? 2.30 isn't it??

JacM wrote:

A lot of things on this new site scream of having been built by someone offshore that does not speak English very well at all.  

An American perhaps?

Its those marketing 'gurus'. $2500 for a course where you can learn the 10 ways to post a post, but only $500 if you sign up now. And as a bonus we will give you a valueless ebook…[Read more]

Yep, but no help. I leave the tabs open for hours sometimes and I guess something behind the scenes starts to time out or something.

Chrome is must smoother for viewing this forum on. I do use chrome too, but for some reason I find firefox more convenient.

Its getting worse,

I just received 15 notifications to the thread
New comment posted about "Guidance about buying parents' home" (PropertyInvesting.com)

I only made one reply on that thread.