You should have your deed worded so that any company in which you are or were a shareholder or director or office holder is a beneficiary. Not necessarily just the trustee. Its probably not a good idea to distribute to the trustee anyway because if the trust is sued the trustee will be liable.

Yeah, i would go for the offset for now. Re assess the situation later.

Unilodge at broadway?There are many threads heere ont that including one recent one.

HI Michael

It is a bit more complicated then that and depends on when the deceased died, whether the property was their main residence, or an investment, and even when they acquired the property.

Scha

Sounds like a bad experience. How much did they charge you for that?

Good idea to have shares too, especially in super as it is easier. But also good to have an option to transfer property to your superfunds later on too. Keeps your options open

Gifting is good, but there are problems you need to consider such as the claw back provisions of the Bankruptcy Act – if you go down the money can be clawed back indefinitely if you gifted with the intention to avoid creditors, up to 10 years otherwise. Also unless you have paid off your home loan you will face the dilemma of whether to pay off…[Read more]

YesBut any equity would still be yours as the trust would owe you the money if you loaned it to the trust. If you let the trust mortgage your property it would still be essentially the same, but it may look like you have less or no equity on on first glance. it is still a good idea though.

Maybe best to sell one house per financial year to avoid too big a gain.You might also want to look at selling half. If they are in your wife's name you could borrow to buy half of the property. Put the cash off your PPOR mortgage.Or sell to a trust.But it all depends on your view of whether they are long term growth properties. If not the they…[Read more]

Hi EVYes you can significantly benefit from a trust. But getting the assets that you already own into the trust will be a problem. To get existing properties in a trust you would have to sell them to the trust which would mean stamp duty and CGT payable at market rates.This is the same whether going into a unit trust or a discretionary. If the…[Read more]

Hi JarrodI think the ATO is only concerned with uncommercial uses of hybrid trusts. Especially uses which are schemes which try to enable a high income earner to claim the interest and then the trust distribute the income to a lower income earner.

Just keep saving as much as you can while trying to maximise your income. make sure you are getting good interest on your savings too.

hi TimI am not an accountant, just a lawyer (sydney) with an interest in trusts, so I may be wrong, especially on the tax side of things.A trust could acquire capital would be gifting to it, and if there is capital growth of the trust assets. But I see what you mean.eg. $500,000 property. with a $500,000 loan. Property increases to $1,000,000 and…[Read more]

You won't be able to nominate someone else unless you had a prior written agreement with the nominee prior to you entering the contract or they will have to pay stamp duty in addition to you. However, you may be able to rescind the contract if the vendor has not taken all precautions such as giving you the complete contract. So take your contract…[Read more]

minors don't have legal capacity. If a minor was appointed appointor then their guardian could probably act in their place if this is drafted into the deed. interesting question.

coolharry67 wrote:

Terryw wrote:
That's an idea. Sell the PPOR CGT free and move into one of the investments.Also, considering the other properties were inherited there are CGT concessions which should be looked into.

hi terryif he moves into an ip with no loan, and rents out the ppor with loan, will that loan be deductible debtthanks

Yes,…[Read more]

That's an idea. Sell the PPOR CGT free and move into one of the investments.Also, considering the other properties were inherited there are CGT concessions which should be looked into.

Didn't they actually abolish NG  many years ago? From memory there was a huge shortage of rental property and they quickly reintroduced it.

Mick,

I think it may be an idea to sell a property. The tax savings overall may be worth the extra costs incurred with the CGT and stamp duty on repurchasing a new investment property. There are also significant asset protection advantages available if you can set it up correctly.

I am a solicitor based in Sydney CBD. If you buy me lunch one…[Read more]

The trust doesn't have to distribute all of its property, just its income (or if it doesn't the trustee is taxed). The trust will be holding a house, for example, and this will be growing in value. Eventually this could be sold or the loan will revert to PI and will gradually be paid off as rents rise.Your example- Rent $33,000 – Interest $28,000…[Read more]