depends how you do it.If you put in cash from a savings account, you cannot later substitute this with borrowed funds and be able to claim the interest.

Buying with others can lead to many problems. You need to consider many problems which could occur such as:- bankruptcy of one party- death of one party,- divorce of one party- who does what?- who pays for what?- what happens if one wants to sell and the other doesn't- what about equity – how to access- effects on pension of your parents in…[Read more]

Henry,I would be worried, extremely, if they are selling their own properties. Make sure you get an independent valuation done on this – ie from a valuer which you chose and order yourself.

I recall seeing an online calc for CGT on the ATO site

What is an FMD?

I see you have averaged your ages, and it would be good if you could average your incomes as well, but ithink you would still be on more than $200,000 pa and on the top rate.Depending on what sort of work your husband does it may be possible to divert some of his income into a company or a service trust. This should enable the tax rate to be 30%…[Read more]

bumskins wrote:

Peter456 wrote:
He may give income from the property as "gifts" or I may just get him to use it to take over payments of some of my personal ongoing bills. Are there any other means you would know of achieving this task?

Assuming the property/trust is cashflow + as you imply, any "gifts" as you call them are actually…[Read more]

Peter456 wrote:

Terryw wrote:
If you want to own property and still get access to centrelink benefits then one way to do it would be to assist your children set up discretionary trusts well before your retirement. The children should control the trust without your influence and you should have no role or control in the trust at all. Hopefully…[Read more]

If you want to own property and still get access to centrelink benefits then one way to do it would be to assist your children set up discretionary trusts well before your retirement. The children should control the trust without your influence and you should have no role or control in the trust at all. Hopefully the children may give you some…[Read more]

Peter456 wrote:
How does the ato find out if you receive a insurance payout? If you receive a payout and deposit the money directly into an account of a spouse and then buy property in a trust for the spouse to become trustee and you appointer. The bottom line is if the ato dosent know then centrelink will not know unless you tell them. Who…[Read more]

Peter456 wrote:
Terryw, I suppose what I meant was to buy property in a trust to begin with. Not for yourself and then give it to the trust. (Then you pay stamp duty twice). If you make yourself appointer of the trust then make a company or friend/spouse trustee. That way that person actually owns the property rather than yourself. You could…[Read more]

Peter456 wrote:
Terryw, I suppose what I meant was to buy property in a trust to begin with. Not for yourself and then give it to the trust. (Then you pay stamp duty twice). If you make yourself appointer of the trust then make a company or friend/spouse trustee. That way that person actually owns the property rather than yourself. You could…[Read more]

Hi ColinCGT would be payable in the year of sale. If the property is underperforming then the CGT may be lowish. If this is the case you can minimise the CGT by reducing your taxable income for that year. You could do this by prepaying interest on other loans or contributing to super etc.

Shape wrote:
  Just note when setting up a trust or any financial account; your name is STAMPED all over it + dated…so if they need to backdate any payment made; they can.v 

Michael,This is not so. In some states, such as NSW, the trust deed is required to be stamped (costs you $500 too!!). The stamp is just a small imprint stating the d…[Read more]

Peter456 wrote:
How easy is it to create a new trust and name yourself as appointer of that trust, buy property yourself and give it to the trust. 

It is extremely easy to create a trust. It could all be done in a few minutes. But what do you mean 'give it to the trust?'. If you bought a property and then gifted it to the trust you would pay…[Read more]

imagine the trail after 5 years. 15 years…….

I just watched a video interview about Wendy. She personally writes 50-60 loans per month and her 5 other brokers do another 50 between them.That is an average for her of 2 loans per day!Trails on $1B = $1.5mil pa approxI think I want to be a broker again.

Just think of the trust as a person.A person can gift to another person without any tax implications.Capital of a trust can be distributed as a gift too. The receipt of the gift wouldn't be income. But as Luke said the trust cannot claim a deduction for the gift (assuming no charities etc).It is probably not a good idea to make interest free loans…[Read more]

Jamie M wrote:

Henry Adams wrote:
Yes, they put the $8500 into the loan account.

Really? I don't know how they could add this to a 95% lend……CheersJamie

Hope he hasn't used other security.

Imagine the trails on $1B!