Keep your own policy up for your own protection. What if the house were to burn down and it wasn't insured?

If your wife is 100% title owner then she will get 100% of the income.

Since you will have $800k owing on the new main reisdence you would want to sell your share of the house to the wife and for her to borrow to buy it. She can then claim the interest against the income an then this will release funds which can be used to pay down the new main…[Read more]

Don't worry too much. That means you are making money which is not a bad thing. Increasing the tax deductions usually means increasing expenses which means forking out more money.

Why not switch to IO now and get an offset and then look at buying another one. The next one could be negatively geared which will offset the income on the first – but…[Read more]

Its only $12 here
http://www.propertybooks.com.au/productdetail.asp?id=33

businessglobal wrote:
  
– Sexual suggestions to my female staff

What about the poor male staff?

Hi Leonard

You cannot transfer for love and affection because your wife would not be able to claim any interest unless she borrows to acquire the property for you at market rates. Stamp duty would still be exempt in VIC.

You need to be careful how you do this or it won't be deductible.

You also will probably avoid CGT if this house was your…[Read more]

EdmundSt wrote:
Thanks for the response. 
Mortgage insurance from my understanding would be added on to the principle and therefore increase holding cost by roughly $500 for the 6 weeks?

the median house price for the suburb is $850k so I am using hopefully worst case figures. 

If the property does not sell then that would be the joys of…[Read more]

Is your mate a time waster? I guess an agent can decide not to deal with certain customers as long as it is not based on one of the categories of discrimination – sexual preference, religion, disability etc.

1putt, that is not true. Banks lend to trusts everyday of the week. Its no harder than an individual borrowing.
What you probably had trouble with was borrowing to buy units in the trust which is more difficult.

Pros
– save tax
– greater asset protection
– estate planning benefits
– loan flexibility

Cons
– complex
– costly to set up properly
– more costly to run
– stamp duty/CGT/Legals to transfer existing property
– land tax issues.

It depends on why you are doing it. 3 possible reasons:

1. Business – such as setting up a professional company which  will do this for others too
2. Asset protection – diverting funds legitimately to a trust
3. Taxation – dverting funds to other family members on lower tax rates.

If it is just a husband/wife sort of thing where you will end up…[Read more]

Not in QLD unless relationship breakdown.

Look up the Duties Act QLD

Go long as possible because you can always pay it off early by making higher repayments or lump sums. If things get tight then you acn reduce your repauyments. If you are paying on a shorter term you don't have the same flexibility.

No, second property will be subject to CGT.

For structures you really need a lawyer and tax advisors. Some financial planner set up structures but you really do need a good tax advisor.

Try http://www.houseofwealth.com.au for tax and structures (disclaimer. I consult to this company).

No. Because you are looking for an IP and not yet purchased. Trips to an accountant may be deductible if it relates to your tax affairs.

No that is not possible unless the 'business' is a separate entity.

Obtaining an ABN and/or a business name doesn't change things as you are still a sole trader and you cannot trade with yourself.

If you want to do that sort of thing you would need to open a company or a trust. The company could then with you the individual and you could charge…[Read more]

What were the terms and conditions of the contract you entered into with the domain name supplier? Have a look into that.

maybe 40% LVR