Is this for superannuation purposes? I think it is defined under the SIS Act

Hi MMy thai number is 08 56623852. I will be arriving there evening though.How long will you be in Bangkok?

Where is the mortgage detective when you need him?

Thanks MWMI will be staying in Sukhumvit area soi nana, and it appears to be above water still. Bit worried about getting there from the airport though.

Hi MWMI will be in Bangkok on monday, where are you located? I am currently in Osaka on business and will be returning to Sydney after that.Do you have a copy of the trust deed with you?

There are no good books on Hybrid trusts. Don't trust the commercially available ones aimed at a general market as there are many incorrect stuff in them. You will need to read legal books and tax alerts etc from the ATO. Try searching for Chris Batten too as he has a private ruling with the ATO allowing for the deduction of interest on his deeds.…[Read more]

$50 duty for a transfer to a beneficiary under a wills63 Duties Acthttp://www.austlii.edu.au/au/legis/nsw/consol_act/da199793/s63.html

I think your accountant may not have it all correct.Hybrid trusts can work, but they must be set up in a way so as the trustee has no discretion whatsoever in distributing to beneficiaries while units are issued. This means to get the negative gearing benefits against personal income the trustee must be required to distribute all income to the…[Read more]

No one is responsible to inform the new appointor of the death of the old. Death would trigger the removal of the person from the role and the next appointor would be appointed as per the deed – if there is one. If not successor appointor has been appointed then the trustee would be in control of the trust. Sounds like the control your family's…[Read more]

You must remember that trust assets are not your own assets. Trustees have duties to act in good faith etc to the beneficiaries or the unit holders of the trust. The trustee must keep all trust monies separate from their own personal money. If you have another family involved then you are leaving yourself open to a dispute down the track and it…[Read more]

1If you buy in a company you can get the profit out in 3 ways:1. wages/director payments etc.2. Dividends3. Loans.Lots of issues involved and little flexibility if you are the shareholder. Your kids could earn $416 pa each and pay no tax, but hard to get the money to them with a company.2You will be leaving a large potential tax for your…[Read more]

Never a good idea to buy without seeking proper advice. If you buy before setting up the structure there could be 2 lots of stamp duty.It is also not a good idea to buy in a company because the company will be taxed at a flat rate of 30% with no 50% CGT discount.The best structure for something cashflow positive is generally a discretionary trust…[Read more]

Firstly, you shouldn't be taking legal or taxation advice from a mortgage broker. There are many other issues involved too.Secondly, why waste your wife's borrowing capacity? If you put her on title for 1% for future loans she will be assessed as owing 100% of the debt, but only getting 1% of the income. BTW, you can have her off title and on the…[Read more]

It is not a good idea to buy property through a company. Losses can be carried forward, but there is no 50% CG discount.

new2invest wrote:
I heard from people at work According to the ATO, if you can provide proof of any cost you incur towards your investment property, should be fine to claim. In otherwords i should be able to claim 100% even if I have deposited 10% (redraw from PPOR) and bank lend me 90% Investment loan + deposit = 100% clamaible for as long as…[Read more]

I think it would be claimed off CGT in the future – unless you are in the business of buying/selling property

John,Transferring properties now will result in CGT and stamp duty. The parents will need to do a cost v benefits analysis and see if any savings make the costs worthwhile.Although not possible to transfer residential property already owned into a SMSF they could sell and then buy another in the superfund. The costs to do this may be worthwhile…[Read more]

swampy30 wrote:
Hi Aussieguy2000,

Each state looks only at the land owned by you with it’s own borders e.g. Qld does not care that I pay land tax in
NSW, only that I own land less than the threshold for Qld

Re q3, do not confuse capital gains tax exemption with land tax exemption, they are 2 different taxes with their own separate rules
If you…[Read more]

Yes, it will be impossible to borrow (you) against this property unless you have the title transferred over.

Since both people are legal owners both must be on the loan or loan in one name and the other giving a guarantee – but this is likely to require a credit assessment too.Probably best to speak with a broker as small defaults can usually be overcome.(ncidently, this is another good advantage to use a trust with company trustee – you can just change…[Read more]