i wouldn’t – whats the point without growth?
If would tie up a large chunk of your borrowing ability and deposit.

go see a lawyer

easiest and cheapest way is to not be a director of the trustee and to not give any personal guarantees.

Other ways are to create charges or interests in the property which could take priority over creditors. Lots of issues though

Why are you paying the deposit? get some legal advice on whether you should lend or gift to the trust. if lending, should it be interest free or at market rates.

COnsidered all the issues with a trust? Could end up paying more tax.

Resi is generally always easier because residential loans are easier. But commercial loans are not covered by the NCCP Act so there may be arguments that these loans are less strict.

I know of no reason why you cannot offer. But lawyers have been warned by the law society against participating in rebate schemes like this where the intent is for the buyer to get a higher loan amount.

Structuring will depend on the circumstances such as strength of parties, agreed split, financing ability,trust.

One I set up recently involved company owning property with 50% each owned by trustees of a discretionary trust. Builder family was a beneficiary of second trust. Company then entered building contract with builders company.

End…[Read more]

2 potential errors in this quote Jaxon.

roughly 6 times annual income = very rough

Good luck at lets us know how you go.

Who knows why they didn’t contact you.

You don’t have many options – you are stuck with westpac so you need to convince them that you thought it was a 30 year loan. Suggest to your contact that you will make a complain to the financial ombudsman.

You should get a copy of the original contract you entered. If it was 5 years then you have no one to blame other than yourself as you agreed to this. Why don’t you have a copy of this important document?

if the loan ‘expired’ in 2015 then you would have been required to have repaid it at this point, now you would be in default.

Can you service…[Read more]

1. Dig out your original contract. You might need to apply again
2. They made an offer for finance which you would have accepted in writing.
3. commisison wouldn’t be more, but after 5 years they may get another if you apply again
4. ok
5. ok
6. 2k plus a 25 year extension?
7. ok

There is no time frame that you have to live in it. From a tax point of view there is no minimum time frame to class it as the main residence either.

Tax implications are complex, it will be taxable so seek advice.

Adam – if you want advice on what ownership structure to use then you should seek legal advice from a lawyer only. There are a lot of non qualified persons out there giving incorrect advice – mainly accountants – so beware.

non qualified persons can’t advise on trusts, but they shouldn’t give general advice either. You seem to confuse accounting advice with tax advice – but only lawyers or tax agents should explain the tax aspects of a trust too – not tax incentives.

It is probably best not to comment, even generally, if you don’t understand what you are writing…[Read more]

Not really sure what that means either Jaxon.

I am concerned that a poster has come on here seeking advice in relation to structure, you have come on and given some sort of comments verging on legal advice, albeit ungrammatical english – which could be due to rushing or being a non-native speaker, and then you offered to discuss further with the…[Read more]

This answer doesn’t make sens. Are you qualified and licensed to advise on trusts Jaxon?

You would probably want to have at least one property that can access the main residence CGT and land tax concessions. If you are worried about asset protection on bankruptcy then there are strategies that allow for the property to be held in your personal name and to get some good asset protection as well.

A lawyer as it relates to the First Home Owner Grant legislation and duties act. You can look these up yourself too.