Would depend on the terms of the contract. Possibly buyer would be locked in.

C2 wrote:
Terry Pm sent but will be oz end of GW for about 2 weeks.Zmagen, thanks for the clarification.  Mainly Northern Kyushu for now but will probably change after the next 2 month holiday.Will send pm with contact details and happy to catch up anytime.

C2 no pm received.I will be getting into Osaka next tuesday

You can't. (legally) unless your SMSF is purchasing.

That book is misleading. Structures don't really help like that.If you want to plan on maximising borrowing cap then best to speak to a finance broker

No Australian lender would

Dont do it that way. You will be putting yourself at great risk.There may not be any stamp duty at all, it would depend on what the assets are and the State the business is located in. Your solicitor can advise you. So changing the trust and causing a resettlement may not be a big issue from a stamp duty point of view. But there is also CGT to…[Read more]

Sounds like you misunderstand trusts.As Luke said you could buy the company, but the company is only the legal owner and the ultimate owners are the beneficiaries of the trust. You probably are not a beneficiary and if that is the case it will cause you serious problems as the trustee cannot distribute any profit to you or your family.You could…[Read more]

Using a trust makes it easier to get finance in this regard as you can introduce income guarantors easily without having to change title. This is especially good if down the track, after owing the property, if one person was to get a credit blemish.

PropertySeeker wrote:
Hi everyone,I'm at a point where land tax is becoming a problem, I have been reading about Discretionary Trust aka Family Trust and how it may help to reduce land tax? Can someone give me a brief idea how this would work?ThanksPropertySeeker

Discretionary trusts won't help reduce land tax, in NSW anyway.

Craig, I thought you were going to stop paying the loan for a bit and let it capitalise

You have tO be careful with that strategy as the clawback provisions of the bankruptcy act could apply indefinitely. But I agree that it is an excellent strategy that could be implemented with care

janinewool wrote:
Boy Terryw you have it worked out. Any chance that you know any good accountants in Melbourne's east that I could see.CheersJanine

There is House of Wealth. James. A google should bring up the contact details.

Best thing to do would be to use equity to buy further IPs and to keep your cash an offset account. Once you retire then pay out the loan in the PPOR

Good points raised by Mike.If the trust deed is old you may need it to be updated.Also depending on the wording, in NSW a change in trustee may trigger stamp duty if changing the trustee results in the new trustee becoming a beneficiary.So, may be best to set up a new trust and start again. You trust will also get another few extra years of life -…[Read more]

Hi GeoffBit of bad luck there.See http://www.austlii.edu.au/au/legis/qld/consol_act/da200193/sch2.htmlIn QLD duty arises when an agreement to transfer dutiable property is entered into. Schd 2 Duties Act

smaller professional

Ah, yes GST could be applicable too for the first 5 years that the property when the property is sold.

Your accountant is correct. Under the bankruptcy act (and conveyancing act nsw and even corportations act) there are provisions to allow transactions to be voided in certain instances. see s120 and 121 for example.If you were to transfer half of your house to your spouse now with the intention of asset protecton – that is to avoid it falling into…[Read more]

Hi ChrisYes, certainly get insurance. This should cover many things – but not all. Say a tenant reported some damage and the landlord knew about it but didn't rectify the fault. The insurance may not cover something like this.There is a nsw case where a tenant punched a class door and did some bad damage to his hand. From memory the tenant was…[Read more]

If you are doing it as a business then tax would be payable eventually