BigAJ wrote:

Derek wrote:
Hi AJ,You guys have come a long way since your earlier post about 'investment companies' and you have given your whole situation plnety of thought at a macro level.While your asset level is terrific your combined incomes aren't that flash at this stage. Limited income will mean limited borrowing capacity so if you…[Read more]

Children could have earned up to $3,334 in the 2010-11 income year with no tax

The main problem was people distributing income from discretionary trusts to children.Imagine before a family with 10 kids = $26,660 in tax free income each year.see the rates hererhttp://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/20046.htm&page=5&H5

There are some asset protection and tax strategies which you could utilise before you invest and still use the money.

Otherwise everyone would be saving tax by putting stuff in the names of their kids.A few years ago it was up to $2,666 with the low income tax rebate, but they scrapped that.

Try accessing equity later on.No offset accounts?

Kids can only earn around $416 in passive income and then they are taxed at penalty rates.

Would depend on what is in the contract I think. Watch out for land tax too.

GST doesn't normally apply to residential property, but because the property is a serviced apartment then it might, especially if they are insisting on charging GST to the tenant.You should get tax advice on this as it would be painful to find out that 10% of the sale price would need to be given to the ATO.

Yes, it must be a sale pitch for something otherwise they wouldn't be holding it for free. But, you can still learn a lot from these pitches, just leave your credit cards at home in case you are caught up in the hype – a special price for today only etc.

Tricky one.At least you should be able to hold onto the GST for a while in your offset account and it will help you save interest on your home loans.

Samo wrote:
Ok, well I looked it up and seems brand new, based out of the gold coast, my guess same product.

Well the articles says it did purchase the 'business' of the old company which is presumably mainly the software system. Nothing really suspicious about that. You would have to dig deeper and see who the directors and shareholders are.…[Read more]

You would be borrowing to purchase an asset for an investment property, so I can't see a problem with it. If you were to ever move back in the whole loan would no longer be deductible so cant see a problem there ether.

Creditors couldn't not allow it. If it is a new company then new legal person separate from the old. The new company would to have paid market value for any assets of the old company such as the intellectual property (this was probably owned by a separate entity actually), database of clients etc.

thecrest wrote:
Hi Vet80. Well placed link speedygonzales. The speedygonzales Gold Coast article makes me think you would be joining a long queue for a refund. Now there is another company involved, it looks more complicated. Dept Fair Trading should be able to suggest the correct method of requesting a refund which complies with their EU…[Read more]

Did you claim the stamp duty (if ACT prperty?)

Interesting. Looks like one company maybe under administration because the article mentions an 'insolvency specialist'.Lifestyle Investor Services Pty Ltd is still operating normally according to an ASIC search.Lifestyle Trader Pty Ltd is also still operating normally according to an ASIC searchsee http://www.search.asic.gov.au/cgi-bin/gns030c…[Read more]

Couples can only claim one property as their main residence for CGT purposes between them. By couples I mean spouses, so if you lived together before marriage this would count.

You could be throwing money away by taking a PI loan.

Its a good yield, but whether it is a good buy or not will depend on a lot of factors.