my mate pays $40,000 pa for his tax – 2 companies, a trust, personal and smsf.

A gift is not returnable.A loan is.

Carlito,Just think of the trust as a separate person and see if you come up with the same results.

I think you should probably charge the trust interest if you are onlending money.If you are gifting money to the trust then there is no interest on a gift.If you had cash you could still lend the money to the trust interest free, but a gift is probably better.1. The trust should pay its own loans. If it hasn't got enough cash to do so it could…[Read more]

Actually it may still be possible if the deceased you inherited from died less than 3 years ago.

Hawko,It is a pity you didn't get some legal advice as you may have been able to setup a post death testametnary trust and transfered the money to the trust. Any income from this trust fund could have had large tax advantages and asset protection advantages.

If you are paying interest to the bank i would charge the trust the same amount. I don't think Division 7A would apply as you are not borowing money from your trust but lending to it. You should talk to an accountant.You can only claim the interest if you are investing in something. A beneficiary could not claim interest on money "invested" in a…[Read more]

The first thing lawyers think of is covering their arses. The second thing is covering the client's arse!Another thing to consider is future relationship break downs (a trust may not help in this regard, but could). And, if Hawko dies then attacks on his estate, family provision claims etc. Having the money in a trust can assist in keeping it out…[Read more]

Friggen helll! $500,000 cash.I would immediately take some legal advice on asset protection. Possibly gift it to a discretionary trust and then take a loan back from the trust to invest the money, or buy a PPOR etc.Later on if you were to get sued, for eg, then the money would be still repayable to the trust.This would also help with tax. eg you…[Read more]

Hi CarloIf you are borrowing money to give to the trust then things are different. You will be charged interest and would want to claim this. The only way to do so would be to charge your trust the same or more interest. Other wise you couldn't clam the interest.If it was just cash you had, then I would just gift it. If you lend the money it is…[Read more]

Why not? You could lend to anyone on any terms. (can you lend me $100 interest free?).But, why would you want to?

I am not familiar with VIC contracts, but if it was NSW you could claim compensation for misdescription. The vendor can rescind rescind if the total amount claimed is greater than 5%. I don't think the purchaser has the right to rescind

what state is it in?Did it say on the contract somewhere that the size was 37.1m?

What did your solicitor say?

You could have possibly rescinded the contract. But since you had received notice you may be locked in.what state is the property in?

Yes you would pay stamp duty when you sell to a unit trust, or other trust. Full market rates too.It is not possible to transfer a residential property you own to a SMSF in which you are a member, but it would have been possible to transfer units.If you want to keep A then it may be better to just transfer half to one of you. But that would only…[Read more]

You may have problems with buying an option while the property is listed because the agent could miss out on the commission – or they think they will – You could keep the same agent on the case to resell.or if the agenthave a clause in their agreement that the seller may have to pay the normal commission to the agent if they sell an option to…[Read more]

If your grandmother is not appointor you grandfather is sole appointor then your grandfather may be able to remove her as trustee.

Who are the appointors now?

we all do